By IANS,
New Delhi : Delhi Chief Secretary P.K. Tripathi has favoured the central government’s proposal to levy additional taxes on land transactions and buildings near the Metro corridors.
“If you personally ask me, I am in the favour of what the centre has proposed. Since the value of property near the Metro corridor has increased, what is wrong with that? If the tax is levied on those properties, the value of the land will also increase benefiting the owners,” Tripathi told reporters here Tuesday.
However, it is up to the Delhi government to decide on the matter, he said.
The union urban development ministry has written to state governments proposing that additional taxes be levied on land transactions near the Metro corridors.
According to the proposal, people who own property within 500 metres of a Metro line should pay the extra tax.
The ministry has also proposed that 10 percent property tax may also be imposed on additional floor area ratio (FAR) permitted along the Metro lines.
Besides Delhi, Metro rail network is coming up or is proposed in half a dozen cities, including Bangalore, Hyderabad, Chennai, Kolkata, and Kochi.