Special infra dev fee gets Punjab govt nod
ECONOMY & POLICY

Special infra dev fee gets Punjab govt nod

The Punjab state government gave approval this week for levying a Special Infrastructure Development (Special ID) fee on the sale of diesel, petrol, and immovable property.

As per a government statement, the collection from the special ID fee will be deposited in the development fund of the Punjab Infrastructure Development Board (PIDB).

On the sale of diesel and petrol within the state, the special ID fee would be imposed at the rate of Rs 0.25 per litre. Similarly, Special ID fee at the rate of Rs 0.25 would also be levied for every Rs 100 of the purchase value of immovable property within the state.

The cabinet, led by Chief Minister Capt Amarinder Singh, also approved certain amendments in the Punjab Infrastructure (Development and Regulation) Act, 2002 through ordinance promulgation. After that, it introduced a Bill, the Punjab Infrastructure (Development and Regulation) Amendment Bill, 2021 in the Vidhan Sabha.

An amendment would be made in the existing provision by inserting a new Section 25-A on levy of the special fee to implement the Special ID fee.

Image Source

The Punjab state government gave approval this week for levying a Special Infrastructure Development (Special ID) fee on the sale of diesel, petrol, and immovable property. As per a government statement, the collection from the special ID fee will be deposited in the development fund of the Punjab Infrastructure Development Board (PIDB). On the sale of diesel and petrol within the state, the special ID fee would be imposed at the rate of Rs 0.25 per litre. Similarly, Special ID fee at the rate of Rs 0.25 would also be levied for every Rs 100 of the purchase value of immovable property within the state. The cabinet, led by Chief Minister Capt Amarinder Singh, also approved certain amendments in the Punjab Infrastructure (Development and Regulation) Act, 2002 through ordinance promulgation. After that, it introduced a Bill, the Punjab Infrastructure (Development and Regulation) Amendment Bill, 2021 in the Vidhan Sabha. An amendment would be made in the existing provision by inserting a new Section 25-A on levy of the special fee to implement the Special ID fee. Image Source

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?