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Flats Below Rs 35 Lakh In Bengaluru To Get Cheaper As Karnataka Cuts Stamp Duty.



  • Stamp duty will be cut from the existing 5% to 2% on apartments costing less than 20 lakh.
  • The cut in stamp duty will make buying a new flat more affordable.

The Karnataka government on May 26 reduced the registration stamp duty from 5% to 3% for properties costing between Rs 21 lakh and Rs 35 lakh in a bid to give a leg-up to the ailing realty sector. The budget presented by the BJP government had brought down the stamp duty from 5% to 2% for properties costing up to Rs 20 lakh.

During a meeting with revenue department officials, Chief Minister BS Yediyurappa reportedly directed the department to reduce the stamp duty to boost the volume of registrations and help lower- and middle class home buyers.

Thanks to Covid-19 and the subsequent lock down, Karnataka is staring at a loss of Rs 3,542 crore in the ongoing financial year with revenue earning streams like property registration and vehicle registration suffering a big dent in collection drive.

Revenue Minister R Ashoka said biggest beneficiaries will be home buyers from cities like Mysuru, Mangaluru, Hubballi-Dharwad, Belagavi, Kalaburagi and semi-rural areas.

Stamp duty cut will cost state govt Rs 300cr annually

The move will cost the government about Rs 300 crore annually.

With property prices stagnant and multiple projects unsold, the reduction in stamp duty is expected to spur demand in affordable and mid-income housing segments, where green shoots are visible.

“Also, a property in the premium housing segment in smaller cities could cost about Rs 35 lakh and a home buyer can save up to Rs 3 lakh in stamp duty after the reduction,” a department official said.

A home buyer pays stamp duty to the government at the time of registration of her property. The fee is levied to validate the home buyer’s registration agreement by the state government.

The stamp duty varies from state to state and is in the 2-7% region.

Source: TNN, Bengaluru


Govt plans to boost organic farming by doubling allocation,but experts say it’s anti Swadeshi



  • Agriculture Ministry has proposed to double the allocation for the sector to Rs 1,300 crore annually in coming years
  • It has also proposed to bring additional 25 lakh hectares under organic farming in the next 5 years.
  • The current organic farming coverage of 28 lakh hectares is a measly 2% of the total farm land.
  • Zero budget farming expert Subhash Palekar thumbed down the government’s move saying it was a foreign concept and destroys fertility of the farmland

In a serious push to natural farming within the nation, the Agriculture Ministry has proposed to double the allocation for the sector to Rs 1,300 crore yearly. The Center has supplied Rs 660 crore to help the sector in its funds estimate (BE) for FY21. In a presentation to the Fifteenth Finance Fee, the Agriculture Ministry has proposed to convey extra 25 lakh hectares underneath natural farming within the subsequent 5 years. The present natural farming protection of 28 lakh hectares is a measly 2% of the entire farm land.

The federal government has been selling natural farming within the nation by varied central schemes. The transfer is geared toward decreasing the usage of chemical fertilizers, pesticides and progress regulators. States corresponding to Madhya Pradesh, Gujarat, Maharashtra and Sikkim have boosted natural farming by offering varied incentives and help.

In January 2016, Sikkim was declared India’s first 100% natural state. Regardless of the federal government’s push for natural farming, its adoption has been sluggish. In comparison with a few of the European nations, the entire acreage underneath natural farming is far decrease. As per Eurostat, the entire space underneath natural farming within the European Union (EU) has been growing through the years. In 2018, the entire space underneath natural farming was 13.four million hectares of the agricultural land.

This made up about 7.5% of complete EU agricultural land in that 12 months. Moreover motivating farmers to take up natural farming, India has been pushing for exports of natural merchandise particularly vegetables and fruits. As per Agricultural and Processed Meals Merchandise Export Improvement Authority (APEDA), complete exports of natural merchandise in worth phrases recorded a 50 per cent leap in 2018-19 to Rs 5,151 crore. Among the many main meals gadgets that had been shipped out from the nation included flax seeds, sesame, soybean, arhar (purple gram), rice and tea. The US and European Union (EU) member-countries had been the most important consumers of those natural merchandise.

However not everybody is happy about natural farming. Subhash Palekar –  the pioneer of Zero Funds Pure Farming (ZBNF) – mentioned that natural farming is a overseas technique and shouldn’t be inspired when the federal government is stressing on AtmanirbharBharat.

“AtmanirbharBharat means Swadeshi. Natural farming will not be Swadeshi and it destroys the fertility of the land. It’s far dearer than standard farming utilizing chemical fertilizers. The enter value is much increased in case of natural farming. It is past my understanding that whereas the federal government is speaking about Atmanirbhar Bharat it has determined to advertise natural farming. This coverage will not be proper,” Palekar mentioned.

Agriculture coverage professional Vijay Sardana mentioned that there was no dependable information to conclude that productiveness goes up in natural farming. “There is no such thing as a subject in pushing for natural farming however the authorities also needs to spell out its meals safety plan. Then, the opposite subject is natural merchandise are offered at a premium so solely the wealthy can afford to purchase,” Sardana mentioned.

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