The bill seeks to reduce stamp duty from 5 per cent to 3 per cent for flats priced between Rs 35 lakh and Rs 45 lakh on the firsttime registration. The assembly passed the measure after several members from across parties requested the government to extend the benefit to all kinds of housing units.
The cabinet had cleared the amendment for the stamp duty reduction last month and chief minister Basavaraj Bommai reportedly asked officials to bring the bill to the House on priority.
The proposal was announced in the 2021-22 budget when BS Yediyurappa was the chief minister. It is a continuation of the governments policy to support the affordable housing segment.