In yet another move for the benefit of industrialists, the Karnataka Cabinet on Thursday decided to reduce stamp duty registration charge for land acquired for setting up industries from 5% to 2%.
The decision is aimed at attracting investments under the new industrial policy of 2020-25, which envisages concessional registration charges for industrial lands, said Law and Parliamentary Affairs Minister J.C. Madhuswamy. The government has already reduced stamp duty from 5% to 2% for apartments costing less than ₹20 lakh in August last.
The Cabinet gave administrative approval for ₹130 crore for rejuvenation of areas falling under the Harangi reservoir. A sum of ₹35 crore was approved for construction of a check dam in Kokarne gram panchayat limits of Brahmavar taluk in Udupi district under the Paschima Vahini project.
It approved release of ₹35 crore for construction of a check dam at Heruru village in Brahmavar taluk under the Paschima Vahini programme. The Cabinet also gave administrative approval to borrow ₹7,438 crore for the Bengaluru suburban railway project, which is being implemented jointly by the Centre and the State.
