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Fair value of land in State enhanced by 50 per cent

Fair value of land in State enhanced by 50 per cent

Thiruvananthapuram: In yet another measure to mobilise additional revenue to state, Congress-led UDF government in Kerala Wednesday decided to enhance the existing fair value of land by 50 per cent.

Decision to hike the fair value was taken after it was found that the government was incurring heavy loss during land transaction even though market value of land has increased to a large extent, an official release said.

Last month, to mobilise more resources in view of severe financial crisis, government had brought luxury cars and buildings under higher tax rate net, besides revising tax structures of Indian Made Foreign Liquor, tobacco products and cigarettes.

This move was seen as a measure to cover up the revenue loss the government suffered due to its decision to close down 732 liquor bars as parts of its policy to reduce liquor availability in the state with a view to make total prohibition in five years time.

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