Latest news with #S&R
Time of India
a day ago
- Business
- Time of India
1% stamp duty hike likely to overcome Q1 property revenue shortfall
Bengaluru: Revenue shortfall from property registration in the first quarter of this fiscal has prompted the Karnataka govt to actively consider increasing stamp duty by 1%. The stamp duty was last revised in 2013. At present, the govt levies 5% stamp duty on the guidance value (minimum selling price of property fixed by the govt), 1% registration fee, 0.5% cess, and 0.1% surcharge. In all, property buyers pay 6.6% in cess and duty. They might end up 7.6% if the govt clears the hike proposal. Chief minister Siddaramaiah, who holds the finance portfolio, convened a meeting on June 18 to review the performance of the department of stamps & registration. Taking a serious note of the shortfall, he reportedly directed both finance and stamps & registration departments to take measures to improve revenues. Finance officials suggested upward revision in stamp duty. Sources said the CM will take a final call once there is consensus between revenue and S&R departments. Karnataka has the lowest stamp duty among its neighbours, barring Andhra Pradesh. Tamil Nadu levies 11% that includes stamp duty and registration fee, and Maharashtra imposes 7%. Underwhelming revenues from property registration have been a cause of concern, as it potentially implies a sluggish real estate sector. While Siddaramaiah fixed a target of Rs 26,000 crore for 2024-25, he was forced to downscale it to Rs 24,000 crore. But the department could collect only Rs 22,500 crore by the end of the year. This fiscal, the CM fixed a target of Rs 28,000 crore. Going by this, the department was to have collected Rs 7,000 crore on average in the first quarter that ends on June 30. It collected Rs 5,556 crore, logging a 35% shortfall. "The govt is obviously worried about the revenue shortfall, but a stamp-duty hike is not the solution. It should realise that the shortfall is mainly due to the ill-implementation of the policy mandating e-khata for registration and tech glitches in the Kaveri portal. The govt does well to rectify this instead of hiking stamp duty," said T Bhaskar Nagendrappa, state president of Credai (Real Estate Developers' Associations of India). He said the govt increased its guidance value by 39% in 2023, and any hike in stamp duty would make property purchase costlier and negatively impact the sector. "The irony is the govt decided to keep sub-registrar offices open on weekends. But what's the use if the portal is glitch-ridden and e-khatas are not issued," said one sub-registrar. Ends GFX Sagging S&R Revenues 2024-25 Original target: Rs 26,000 crore Revised target: Rs 24,000 crore Achieved: Rs 22,500 crore 2025-26 Annual target: Rs 28,000 crore Target till June 30: Rs 7,000 crore Achieved till June 19: Rs 5,556 crore Source: GoK
Channel Post MEA
04-06-2025
- Business
- Channel Post MEA
ESET Named a Notable Provider in Forrester Latest European MDR Landscape Report
ESET announced its recognition as a 'Notable Provider' in Forrester's recently released The Managed Detection and Response Services in Europe Landscape, Q2 2025 report. The report provides an overview of 26 MDR providers and serves as a strategic guide for security and risk (S&R) professionals seeking to navigate the evolving European MDR landscape. As outlined in the report, Forrester defines MDR services as: 'Services that augment extended detection and response (XDR) tools with telemetry from network, identity, cloud, APIs, applications, and other log sources to produce high-fidelity detections, conduct investigations, support remote incident response, enable security automation, initiate threat hunts to identify adversaries that circumvent security controls, and help improve their clients' overall security posture.' In our view, ESET´s inclusion in the report underscores its growing influence in the European cybersecurity market and reaffirms the company's commitment to delivering high-quality, proactive threat detection and response capabilities. 'We are proud to be recognized by Forrester as a Notable Provider in the European MDR landscape,' said Michal Jankech, Vice President, Enterprise & SMB/MSP, at ESET. 'For us, this acknowledgment is a testament to the relentless dedication of our global teams and our unwavering commitment to protecting organizations across Europe with cutting-edge, resilient cybersecurity solutions. As the threat landscape becomes increasingly complex and adversaries more sophisticated, we believe that MDR must evolve beyond traditional detection and response. At ESET, we are focused on delivering intelligent and cost-effective services that not only detect threats but also empower organizations to respond with speed, precision, and confidence.' The European MDR market is becoming increasingly competitive and mature, leading customers to demand better services at lower costs. To stay competitive, providers are innovating with their offerings and pricing. As a consequence, S&R professionals will have a wide range of provider options to consider. The Forrester report identifies three major dynamics shaping the MDR market in Europe, all of which align closely with ESET's MDR offerings: European firms consider XDR an essential capability : ESET's XDR-enabling solution delivers comprehensive, transparent threat visibility and response across endpoints, networks, and applications. Backed by over 30 years of cybersecurity innovation, it combines multilayered protection, intelligent automation, and expert-level customization. : ESET's XDR-enabling solution delivers comprehensive, transparent threat visibility and response across endpoints, networks, and applications. Backed by over 30 years of cybersecurity innovation, it combines multilayered protection, intelligent automation, and expert-level customization. AI helps fill talent gaps in detection, but not response : Complemented by expert insights, ESET effectively integrates AI into its MDR offerings through ESET AI Advisor. This tool delivers real-time, personalized threat insights, simplifies complex data for all skill levels, and boosts efficiency by automating routine tasks—empowering faster, smarter threat response. : Complemented by expert insights, ESET effectively integrates AI into its MDR offerings through ESET AI Advisor. This tool delivers real-time, personalized threat insights, simplifies complex data for all skill levels, and boosts efficiency by automating routine tasks—empowering faster, smarter threat response. Niche regional providers leverage localization and specialization to compete with dominant players: Leveraging its Central European roots, ESET delivers highly localized, regulation-aligned cybersecurity solutions across EMEA. For more information, read about Forrester's objectivity here. 0 0
