The CVS has been proposed from April without holding deliberations with the public, trade and industrial bodies, said past president of FKCCI R C Purohit. Under the CVS, even vacant sites are taxed. "Implementation of CVS for levying property tax would burn a deep hole in the pockets of property owners as they would have to shell out at least five times more in comparison with the SAS. This would have a direct effect on increase in the rents," he added.
FKCCI president S S Patil said a memorandum would be submitted to governor Rameshwar Thakur on March 14, urging him to postpone implementation of CVS.