Loading Ticker...
You Are Here: Home » Realty

Now Increased Tax On Property Prices Beside Metro Rail Lines

People who are willing to acquire land very near to the Metro lines may have to invest more money, according to the new law suggested by the Urban Development Ministry to the State government.

Now pay more property tax if your apartment is near to the metro railway lines!

Now pay more property tax if your apartment is near to the metro railway lines!

The ministry is also suggested to levy additional taxes on the lands near to the metro lines. “This is one of the innovative methods to produce funds for the development of infrastructure of Metro as we cannot preserve Metro by just printing the currency,” Urban Development Secretary Sudhira Krishna told reporters here.

According to the new proposal, people who are acquiring land within 500 meters from the metro lines have to pay the extra tax. Krishna told that this is the new suggestion to the state government as the central government has not taken any measure yet.

It is also proposed that people have to pay 10% tax more those who are having additional floors along the Metro lines under the floor area ratio (FAR).

Via, Image


Share this post

Subscribe to our updates via e-mail or get our  RSS Feed
Enter your email address:


Other Related Stories: