Bangalore Real Estate Trends

BBMPs 5-point plan taxes entertainment,commercial structures,heavy transport vehicles,industries, Malls and entertainment complexes,skyscraper apartments and commercial buildings that clog roads with teeming visitors,residents and vehicles will be taxed.

The environment impact caused by such structures in terms of pollution and parking problems will be compensated through a new cess called special development charges. This is one of the five kinds of cess the BBMPs 2010-11 budget has proposed.The other taxes include those on the transportation carriers,private spaces having communication towers and antennas,individual Bescom transformers and e-waste cess.The BBMP has smartly included a host of new taxes under the head,additional revenue mobilisation.

When big buildings come up on roads,it is bound to cause inconvenience.To compensate the impact,a one-time special development tax will be levied on high-end existing and new buildings.A survey is on to assess such structures,after which rates will be fixed, BBMP special commissioner (resources and finance) K R Niranjan told Bangalore Mirror.

TAXING LORRIES

Tax on heavy commercial carriages will affect lorries/tippers that use roads and pavements for loading and unloading goods.In places like city market,Yeshwanthpur APMC and Shivajinagar,lorries being parked on the road is a common sight and due to heavy load,roads get damaged.
The carriage tax has to be paid annually.

e-WASTE CESS

In view of the haphazard disposal of computers and electronic goods,ewaste cess is being rolled out.The IT and electronic industries would be asked to meet the expenses incurred on the scientific disposal of e-waste along with making it mandatory for industries of a particular size to make their own arrangements for e-waste disposal.
This will be done after consultation with the IT industry.

POWER CESS

The Corporation has also proposed a levy on dedicated power transformers installed on BBMP properties.Usually,apartments with many flats or big commercial establishments get Bescom transformers for exclusive power supply.These transformers are placed on pavements.Henceforth,the authorities will collect ground rent from such installations.

RS 750 CR VIA SAKRAMA FINE

EVEN AS THE debate over the approval of building regularisation scheme - Akrama-Sakrama - continues,the BBMP is already dreaming big.It has estimated a revenue of Rs 750 crore this year through penalties.The officialdom is doubtful whether Sakrama scheme would be approved at all considering it was rejected thrice by the previous governors,with the present governor sending it back.

_{Source: Bangalore Mirror Dt:31-8-10}