Our Correspondent

Madurai, Dec. 2 Hundreds of representatives of trade and industry associations participated in a ‘protest fast’ here on Tuesday, organised by the Tamilnadu Chamber of Commerce and Industry seeking a reduction in the property tax enforced by the Madurai Corporation.

The Corporation had announced a unilateral increase of 150 per cent for commercial buildings and 100 per cent increase for industrial buildings, effective from April 1 this year, drawing loud protest from trade and industry bodies. Following a representation to the Minister for Local Administration, Mr M.K.Stalin, the Corporation brought down the rates to the range of 75/100/125 per cents. Trade and industry association dubbed the reduction as marginal and unacceptable. According to Mr S.Rethinavelu, Chamber Senior President, property tax rates have not been revised in Chennai and Vellore Corporations. Even recognised industrial cities such as e Erode and Tiruppur have fixed an increase of only 25 per cent for commercial buildings and 20 per cent for industrial buildings.

The demand is a fixation of a maximum of 40 per cent for commercial and industrial buildings, 50 per cent for special buildings and fixation of similar rates in the calculation of basic value of buildings, he mentioned.

Mr P.Mohan, Member of Parliament, told Business Line funds for the development of the city could be obtained if a body on the lines of Chennai Metropolitan Development Authority was set up. The present arrangement has neither the power nor the funds. Already Rs 11 crore is due from the State Government, he mentioned.

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