The Southern India Engineering Manufacturers' Association (SIEMA) has strongly objected to the proposal of the City Corporation to increase the property tax by around 150 per cent for industrial buildings, which it termed as 'very abnormal and unethical.' The very survival of pumps, motors and textile machinery manufacturers was in doubt due to abnormal and frequent increase in prices of major raw materials like pig iron, coke, aluminum and steel and announcement of hike in property tax was another burden, adding fuel to fire, SIEMA said. 

                                                         Courtesy ET Realty 06-06-08