During the weekly cabinet meeting held yesterday, industries minister Narayan Rane raised the point that the government may charge just 1 per cent — instead of the prevailing 5 per cent — as VAT on properties purchased for less than Rs 1 crore between 2006 and 2010.u00a0

Even Maharashtra Chamber of Housing Industry has made a similar plea. Responding to the brief discussion, in which textile minister Naseem Khan too participated, finance minister Jayant Patil expressed his willingness to consider the demand.