CREDAI, realtors say doubling registration fee will dampen resurging public mood after pandemic

The Confederation of Real Estate and Indian Real Estate Developers Associations (CREDAI) has doubled the state government to double the registration fee for the property transactions that are valid from 1% to 2% of the guidance value of the guidance value of 31 August. He said that walking fees are not an answer to be compensated for income, and that it will only reduce the public mood in the real mood of the city.

Uz We slowly get rid of the collapse we live in Pandem. Karnataka, the government government to take back the march, they will petition, he added.

Even after the hike, the stamp and registration office has now argued that the fee to be paid for real estate transactions fixed to 7.6% of the guidance value is comparable to the states in Southern India. Although the data is 7.5% in Andhra Pradesh and TaLangana, it shows that Kerala is 10% and Tamil Nadu is 9%. In a statement published by the department on Saturday, the registration fee called “rationalization ..

However, Mr. Surresh opposed it, arguing that the guidance value for properties was the highest in Bengaluru compared to other markets in Southern India.

Kr Ramesh, a real estate consultant and builder, said, “After the implementation of the stamps and records of the state government’s goods and service taxes (GST), the pressure on the sector is one of the few ways to increase the resources among the states and in the same way in Karnataka,” he said.

The Realty Market is currently facing a decrease in more than one quarter in the state, and it is clear about how the stamp and registration office has missed more than one income target. For 2024-25, 26,000 Crore was against the revenue target, the department gathered only 22,500 crore, and in the first quarter of 2025-26, the target was an ambitious 28,000 crore, 35%of the collections.

Records complaints

A few real estate agents also complained that the records were “blocked” on Saturday, the last day before the start of walking fees from Sunday. Ramesh said, “Most of those who try to make reservations with their properties on Saturday, the ready -made response was the server of the Kaveri 2.0 portal,” Ramesh said.

However, the registration General Inspector and Stamp Commissioner (IGR & CS) Mullai Muhilan MP, the planned property records for Saturday without any changes were allowed, the new fees will be initiated for a subsequent home to pay the registration fee, he said.

In a statement published on Saturday, the Ministry of Stamps and Records, who have reserved the nests for records on a day of August 31, but who have already paid the fees, “The official portal must pay the difference amount. The same entry identity information used before. will be collected ”.

Sources, such real estate processes, such as said.