"This will be applicable for the first registration of these apartments. There is also a proposal for upward revision of guidance value. This will be examined by the specific committee constituted for it," Bommai said. In a bid to revive reality sector in the state, Karnataka decided to slash stamp duty on registration of apartments that cost Rs 35-45 lakh from five per cent to three per cent. After the cabinet meeting, Law and Parliamentary Affairs Minister Basavaraj Bommai said that the stamp duty reduction is aimed at providing relief to home buyers looking for affordability. He also added, “This will be applicable for the first registration of these apartments. There is also a proposal for upward revision of guidance value. This will be examined by the specific committee constituted for it,"