The Hindu : Karnataka / Bangalore News : FKCCI to approach Governor on postponing introduction of CVS

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Friday, Mar 14, 2008
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Karnataka

Karnataka - Bangalore

FKCCI to approach Governor on postponing introduction of CVS

Staff Reporter

Bangalore: The Federation of Karnataka Chamber of Commerce and Industries on Thursday opposed the implementation of Capital Value System (CVS) based property tax assessment being introduced in Bangalore city from April 1.

Federation president S.S. Patil told presspersons here that the Bruhat Bangalore Mahanagara Palike was implementing the new system without constituting an expert committee to study the impact of CVS as directed by the Government in May last year. Mr. Patil said the FKCCI had carried out a market study of some sample properties in various parts of the city and the study revealed that on some areas the property tax would increase from 400 per cent to 1,738 per cent compared to the present system. The FKCCI alleged that the BBMP officials were not showing interest to have interaction with the representatives of trade and public.

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