Urban Ministry for higher tax on houses near Delhi Metro lines
The urban development ministry has also proposed that 10 per cent property tax be imposed on
additional floor area ratio permitted along the Metro lines.
IANS- New Delhi,
- Updated Feb 14, 2012 4:34 PM IST
People residing in close proximity to Metro lines
may have to shell out more by way of property tax if the urban development ministry suggestion to state governments is implemented.
The ministry has sought the state governments' opinion on levying additional taxes on
land transactions near Metro corridors.
"This is one of the innovative methods to generate funds for the development of infrastructure of Metro as we cannot maintain Metro by just printing the currency," Urban Development Secretary Sudhira Krishna told reporters.
According to the proposal,
people who own property within 500 metres of Metro line should pay the extra tax.
Krishna said it is only a suggestion to the state governments as the central government has not taken any decision on this.
It is also proposed that 10 per cent property tax may also be imposed on additional floor area ratio (FAR) permitted along the Metro lines.
Union Budget 2026 |
Finance Minister Nirmala Sitharaman presented her record 9th Union Budget on February 1. The Budget has brought relief for travellers, students, exporters and clean-energy sectors, while tightening the screws on tax non-compliance and speculative trading.Track live Budget updates, breaking news, expert opinions and in-depth analysis only on BusinessToday.in Published on: Feb 14, 2012 4:23 PM IST
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