After two years of pandemic-induced lull, the real estate sector seems have bounced back with a bang in Karnataka. Revenue collected in the first quarter of the current fiscal year 2022-23 has not only gone back to pre-pandemic levels, but is also the highest ever in the State. This, despite a 10% rebate on guidance value for most parts of the quarter.
The State saw 6.75 lakh documents registered during April-June, 2022, and a revenue of ₹3,897 crore collected, as against a State government-set target of ₹2,962.73 crore that has been overshot by ₹934.27 crore, data from Inspector General of Registration and Commissioner of Stamps (IGR & CS) shows.
