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Alike the Union, Karnataka State budget brings no hope for Realty

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Declaring the cutback of stamp duty at the brand package of Karnataka state budget 2012 – 13 will positively boost up the lost energy of the realty circuit to propagate further in their dealings across the major locations of the state. It has now reduced to 5 percent from the earlier mark of 6 percent. The current budget also indicates a total expenditure of Rs 1, 02,742 for various development activities. It is obviously a sign of relief as the volume of realty budget has rose to 20.42 percent higher as compared to that of the last year. Both the property buyers and sellers are given a mild reprieve by slightly reducing the stamp duties from the present 6% to 5%. It is also reported by the source at the www.propertykhazana.com that there are certain austere norms being imposed on the joint venture agreements, but more details are awaited. Meanwhile, this budget is not truly in support of the construction sector, as the government is decisive to inflict more tax on the building material supplies, stay browsed with www.propertykhazana.com for more details.
The state budget package of 2012 – 13 has also made fishing segment at the top of the list as many provisions have been made to improve the overall image in the State. According to the source of www.propertykhazana.com, around Rs 215 crore has been sanctioned for the upliftment of general structure of the trade with construction of houses to the houseless fisherman along with the other related structural modification including the harbor of fisheries in Udupi.
On the occasion of state budget, Chief Minister of the state Mr. D V Sadanand Gowda, who also holds the finance portfolio, has revealed that “approximately 4000 houses will be constructed for all those associates of fishing activity lacking a proper dwelling with a sanction of Rs 24 crore for the current period of 2012 – 13. Apart from this around Rs 60 crore will be allotted for the completion of the second stage of Hejmadi Kodi harbor in Udupi as per the source of www.propertykhazana.com.
Apart from this, for the crop growing lands the present state budget offers zero percent loan scheme up to Rs 1 lakhs and just one percent on the lending of Rs less than Rs 3 lakhs. The new finance head of the state also declares few agricultural technological parks in the state with toor technology square in the district of Gulbarga, another in Ranebennur for maize and for coconut there will be one at Tumkur district. For more updates visit www.propertykhazana.com.

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