Residents Living Around Metro Lines; Get Ready To Pay More Tax

2 May

The people residing in close proximity to Metro lines may have to pay the more tax on property. The recent declaration by the Urban Development Ministry may give investors a reason to worry. This is one of the innovative methods to generate funds for the development of infrastructure of Metro. DMRC is likely to extend its ongoing feeder bus services to enhance the metro connectivity to those areas where metro is not available. The residents living nearby metro corridors may have to pay an additional tax of 10 percent. The reason behind this decision is to operate metro train is a huge investment and the expenses are too much to handle. 75 percent of the amount collected as tax will be added to the Central Government’s Urban Transport fund. The fund could be utilized for the expansion of metro projects. It is only a suggestion to the state governments as the central government has not taken any decision on this. According to the proposal, people who own property within 500 meters of Metro line should pay the extra tax.

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