#RealtyNewsRoundup: Kerala May Soon See Property Tax Hike
Realty News Roundup is PropGuide’s selection of top stories from the real estate sector.
The Kerala government was planning to increase property tax and the public should cooperate with it, State Minister for Local Self-Governance K T Jaleel said recently. The minister said an increase in property tax was now inevitable if the government wanted to ensure funds for local self-governing bodies. Read more
To make Jaipur a smart city, the Centre and the World Bank’s grant agreement of US$ 9.2 million will fund the World Bank-Global Environment Facility (GEF) Program for the Efficient and Sustainable City Bus Service Project. The project intends to make bus services attractive and efficient in a few Indian cities. Read more.
The Centre has given green signal to the construction of Dasna-Meerut six-lane highway under Delhi-Meerut Expressway. The ambitious project, which will come up at a cost of Rs 1,658 crore, is aimed at de-congesting traffic in the national capital. The highway will be constructed in four phases, including Nizamuddin Bridge to UP border, UP border to Dasna and Dasna to Hapur. Read more
The government plans to shift cargo transport from roadways to waterways. Even though this move may cost the shipping ministry nearly Rs 100 to Rs 150 crore every year, the ministry plans to offer firms an incentive of Re 1 per tonne per kilometre. The government estimates that apart from cutting down on pollution, transportation through waterways is more cost-effective, costs less per kilometre, and leads to greater fuel efficiency. Read more