New Delhi : An expert committee in the urban development ministry has recommended an increase in property taxes as a step to finance urban infrastructure during the 12th five-year Plan. A report by the committee has estimated Rs 40,000-50,000 crore would be required for over a period of less than 20 years.
The sub-committee on financing urban infrastructure for the 12th Plan has said the rise in property tax should be higher for properties given on rent, compared to self-occupied units to tap the increased rental value. Read more
Source :?business-standard.com
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