Connect with us

Business

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

Published

on

  • 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

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

on

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending