1 day Ago By Nikita Jha
Bangalore: The Silicon Valley of India is once again drawing attention due to rising concerns over its escalating cost of living. As the new financial year begins, residents of India’s IT hub will face higher expenses for essential items and services, including milk, electricity, toll fees, and a new garbage tax. While Bengaluru has consistently ranked as one of the priciest cities in India, these latest price hikes are set to further strain residents' budgets.
Milk And Curd PricesThe Karnataka Milk Federation (KMF) has raised milk and curd prices by Rs 4 per litre, effective immediately. Water PricesAdditionally, the Bangalore Water Supply and Sewerage Board (BWSSB) has raised water prices for the first time in nearly a decade, adding one paisa per litre. As a result, household water bills could increase by Rs 400 to Rs 500 monthly.
Metro And BMTC CostPublic transport costs are also rising. The Bengaluru Metro Rail Corporation Ltd (BMRCL) raised metro fares from Rs 60 to Rs 90 in February, and the minimum balance on smart cards was increased from Rs 50 to Rs 90. Earlier, the Karnataka government approved a 15 per cent fare hike for state buses, and the Bengaluru Metropolitan Transport Corporation (BMTC) raised daily and monthly pass prices.
Electricity BillsElectricity costs are on the rise again across Karnataka, with a 36-paise per-unit surcharge introduced to cover employee salaries, in addition to a broader tariff hike. The minimum charge has increased by Rs 25, and per-unit rates have risen from Rs 5.96 to Rs 6.
16, raising concerns over growing household expenses. Toll ChargesHighway tolls are increasing by 7 to 10 percent, affecting commuters and transporters on both state and national highways, media reports stated. Diesel Price HikeKarnataka government has hiked the sales tax on diesel to 21.
17 per cent with effect from Tuesday, as a result of which there will be an increase of Rs 2 per litre, bringing the sale price to Rs 91.02. An official statement highlighted that the Karnataka Sales Tax rate on diesel was at 24 per cent prior to November 4, 2021, and the sale price per litre was Rs 92.
03. On June 15, 2024, the Karnataka state government issued a notification revising the tax rate on diesel to 18.44 per cent.
Tax on Vehicle Parking SpaceBruhat Bengaluru Mahanagara Palike (BBMP) has standardised and reduced the tax rate for vehicle parking spaces under the new Unit Area Value (UAV) system. The revised structure applies to both residential and commercial properties across Bengaluru, bringing uniformity and easing the financial burden on property owners. Under the new system, residential property owners will pay Rs 600 per year for a 150 sq.
ft. parking slot, calculated at 20 per cent of the assessed value at Rs 2 per sq. ft.
for 10 months. Meanwhile, commercial and non-residential property owners will be charged Rs 1,125 annually for the same space, based on 25 per cent of the assessed value at Rs 3 per sq. ft.
for 10 months. Garbage TaxThe Bruhat Bengaluru Mahanagara Palike (BBMP) has implemented a "garbage cess" under which the residents of Bengaluru will have to pay a solid waste management user fee effective from April 1. After hike in the rate of milk, electricity, BBMP has now decided to enforce a new tax.
The BBMP has decided to raise the cost of garbage and disposal every month and a "garbage cess" is being implemented in Bangalore starting from today. Rates vary by property size: Up to 600 sq ft: Rs 10/month600–1,000 sq ft: Rs 50/month2,000–3,000 sq ft: Rs 150/month3,000–4,000 sq ft: Rs 200/monthAbove 4,000 sq ft: Rs 400/month Get Latest News Live on Times Now along with Breaking News and Top Headlines from Bengaluru and around the world..
