Tag: Fire cess in Karnataka

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Karnataka Cabinet Approves 1% Fire Cess on New High-Rises

The Karnataka state cabinet recently decided to impose a 1% fire cess on new multi-storey buildings in Bengaluru and other parts of the state. Builders believe this move will have a minimal effect on their investments, yet may lead to increased property prices. The cabinet’s decision amends the Fire Force Act of 1964 to include this new levy alongside property taxes for new high-rise structures. The government stated that the funds generated will enhance the operational capacity of the fire services. However, real estate developers in Bengaluru express concerns that this additional tax will exacerbate existing financial burdens stemming from…

IndustryLatest Stories

Karnataka Cabinet Approves 1% Fire Cess on New High-Rises

BENGALURU: Karnataka’s Law and Parliamentary Affairs Minister H K Patil announced on Thursday that the state cabinet has approved several significant initiatives, including the establishment of a Centre of Excellence (CoE) in space technology and the launch of the Local Economy Accelerator Programme (LEAP). The proposed SpaceTech CoE will be formed as a Section 8 company under the Companies Act, 2013, with an allocation of ₹10 crore over five years. “The Satellite Communication Industry Association (SIA-India) has been chosen as the industry partner. The project has received exemption under Section 4(g) of the Karnataka Transparency in Public Procurements Act, 1999,”…