The move is being seen as the state government’s bid to make up for the revenue loss of about Rs 4,000 crore in view of the proposed liquor ban from April 1.
Property registration cost went up by 10 to 25 per cent in urban and peripheral areas of Patna from Monday. While the Minimum Value Rate (MVR) of commercial land and flats went up by 25 per cent, residential land and flats saw a 10 per cent hike in registration costs.
The move is being seen as the state government’s bid to make up for the revenue loss of about Rs 4,000 crore in view of the proposed liquor ban from April 1. The government also introduced 13.5 per cent VAT on luxury items, including packaged samosas, recently.
Patna district magistrate and registration officer Sanjay Kumar Agrawal said the MVR for residential accommodation on main road and complete residential plots and flats had gone up by 10-15 per cent and 8-12 per cent, respectively. Patna’s main commercial areas, Fraser Road, Exhibition Road, Boring Road and Gandhi Maidan, where the rate of one decimal land was Rs 26 lakh, has been revised to Rs 40 lakh.
Source
Property registration cost went up by 10 to 25 per cent in urban and peripheral areas of Patna from Monday. While the Minimum Value Rate (MVR) of commercial land and flats went up by 25 per cent, residential land and flats saw a 10 per cent hike in registration costs.
The move is being seen as the state government’s bid to make up for the revenue loss of about Rs 4,000 crore in view of the proposed liquor ban from April 1. The government also introduced 13.5 per cent VAT on luxury items, including packaged samosas, recently.
Patna district magistrate and registration officer Sanjay Kumar Agrawal said the MVR for residential accommodation on main road and complete residential plots and flats had gone up by 10-15 per cent and 8-12 per cent, respectively. Patna’s main commercial areas, Fraser Road, Exhibition Road, Boring Road and Gandhi Maidan, where the rate of one decimal land was Rs 26 lakh, has been revised to Rs 40 lakh.
Source
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