Real Estate Shares Rally After Karnataka Government Cuts Stamp Duty

Shares of real estate developers rallied in trade on Wednesday after Karnataka Government reduced stamp duty on flats. The Karnataka Legislative Assembly passed an amendment to Stamp Act wherein it reduced stamp duty to 3 per cent from 5 per cent on properties below Rs 45 lakh. Measure of real estate shares on the National Stock Exchange - Nifty Realty index jumped as much as 8 per cent with all the 10 real estate shares trading with...