Karnataka stamp duty cut on flats to have limited impact on sales

Listed players such as Brigade, Sobha, Puravankara seek reduction across all budget segments

After Maharashtra, Karnataka has reduced the stamp duty charges to 3 per cent from 5 per cent for homes valued between Rs 35 lakh and Rs 45 lakh. According to industry players, with housing demand largely skewed towards the mid segment involving properties priced within the Rs 50 lakh to Rs 1 crore budget range, the move will have a limited impact in the state unlike Maharashtra which had reduced stamp duty for properties across all budget segments.

While the reduction in stamp duty for apartments priced at Rs 35-45 lakh would bolster the affordable segment, real estate players said