Tag: Karnataka property registration

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Karnataka’s Fee Hike Raises Inventory Concerns Amid Slow Sales

BENGALURU: Karnataka’s decision to increase the property registration fee to 2% of the transaction value is set to affect Bengaluru’s housing market, which is already struggling with affordability issues for buyers. The rise in transaction costs for home purchases is steep, with experts warning it may diminish buyers’ confidence in the market. “This change will strain homebuyers’ budgets,” noted Navin Dhanuka, director at ArisUnitern RE Solutions. He added that developers will likely need to adjust project financing to sustain demand, given that significant inventory is expected to enter the market in the coming quarters. Industry estimates suggest that Bengaluru’s housing…

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Karnataka’s hike in property registration fee sparks backlash

DHARWAD: The state government’s decision to raise property registration fees by 2% has provoked significant backlash from the public and opposition parties, which are now urging an immediate reversal. Deputy opposition leader Arvind Bellad criticized the Congress government’s “anti-people policies” that are adding to the burdens of citizens already facing rising costs. “The government has suddenly doubled the property registration fee. For low-income and middle-class families, this increase—raising stamp duty and registration charges to 7.6%—is a heavy burden,” he remarked, calling for a return to the previous rates. Citizens claim that the state government has used the guise of “better…