Stamp duty for power of attorney to cost just Rs 200

Published: 15th February 2013 10:06 AM  |   Last Updated: 15th February 2013 10:06 AM   |  A+A-

Giving further boost to the realty sector, the state government has fixed the stamp duty payable towards the execution of the General Power of Attorney (GPA) related  to the Joint Development Agreement (JDA) at just Rs 200.

The registration fee of the GPA has also been fixed at Rs 200. However this cap on both the fees is applicable to the GPAs with respect to the housing projects only.

Chief minister Jagadish Shettar announced it during his reply on the Budget in the Assembly on Thursday.

Shettar in his Budget speech on last Friday had proposed to fix a cap of Rs 1.5 lakh on the registration fee of one per cent payable on JDA and related GPA separately.

Even as calendar of events for the 208 urban local bodies (ULB) polls was announced on Thursday, Shettar doled out an additional Rs 40 crore cash incentives to various mutts and voluntary organisations including Rs 5 crore to Sri Balagangadharanath Swamy Trust.

Shettar also announced the implementation of GS Paramashivaiah committee report on diversion of excess water from rivers flowing westwards to meet the irrigation requirements of eight districts — Kolar, Tumkur, Chikaballapur, Chitradurga, Davanagere, Ramanagar, Bangalore Urban and Bangalore Urban.

This is in addition to the implementation of the Yettinahole project, supplying water to the parched districts of Kolar, Chikkaballapur, Bangalore Rural and Tumkur.

According to the project plan, 24.01 tmc ft of water from Yettinahole river (tributary of Netravathi river) in Hassan district will be drawn by constructing eight small dams.

“The government will provide Rs 800 crore from its coffers and another Rs 1,000 crore will be raised by floating bonds for the implementation of these two projects,” Shettar said.

Vote on Account

The Chief Minister on Thursday took Vote on Account for Rs 40,413.71 crore towards meeting the expenses for the first four months of the financial year 2013-14.

The Karnataka Appropriation (Vote on Account) Bill 2013 was passed in the Assembly amid walk-out from both the Opposition parties — the Congress and the Janata Dal (Secular).

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