35.1 C
Thursday, April 18, 2024

Chief Minister: Bengaluru’s Properties Set to Receive Digital Ownership Documents Soon

IndiaChief Minister: Bengaluru's Properties Set to Receive Digital Ownership Documents Soon

Karnataka Government Plans to Digitize Bengaluru Property Tax Records by 2024-25 Fiscal Year

In his budget speech, Chief Minister Siddaramaiah announced an initiative to digitize property tax records for all 20 lakh properties in Bengaluru, issuing digital e-Khatas. He highlighted the expected record tax collection of ₹4,300 crore for the current fiscal year, aiming for ₹6,000 crore in 2024-25 through enhanced tax collection methods.

To achieve this revenue target, leakages in tax collection will be curbed. Additionally, the government plans to generate ₹2,000 crore from revised advertisement policies and a premium Floor Area Ratio (FAR) policy. FAR, based on usable floor area, will be utilized for this purpose.

Addressing urban development, the government aims to improve infrastructure and quality of life in Bengaluru. Initiatives include completing 147 km of white-topping or cement road construction by December 2025 and piloting an underground tunnel at Hebbal Junction to ease traffic congestion.

The Peripheral Ring Road (PRR) will be repositioned as the Bengaluru Business Corridor to alleviate traffic and spur economic activities, with a proposed 73 km road project under a PPP model. Plans also include constructing a 250-meter high Skydeck to enhance tourism and establishing captive solar parks in various urban institutions.

Check out our other content

Check out other tags:

Most Popular Articles