Fair value of land up by 10%, building tax also increased

Thiruvananthapuram: The fair value of land has been increased by 10 percent. Finance Minister Thomas Isaac said that through this the state hopes to achieve an additional revenue of Rs. 200 crores.

When big scale projects are implemented, the surrounding areas will see a surge in value. And the lands near to these project sites will be valued at a renewed price, that is 30 percent more than the fair value that has been notified, he said in the Assembly.

The Finance Minister hopes to generate an additional revenue of Rs 50 crores through this.

The price of location maps have been increased to Rs 200. The fee slab has been increased as well.

Building tax has been increased, it will be arranged in such a way that it does not exceed 30 percent.

Thandaper copy fees has been made Rs 100. Luxury tax has also been increased. The government hopes to generate additional 16 crores revenue through this.