TRENDING ON ONEINDIA
- PM Modi Attends Swearing-In Ceremony Of Maldives New President, Ibrahim Mohamed Solih
- Free OnePlus 6T On Upcoming Black Friday Sale — Here's How
- Jawa Vs Royal Enfield — A Brief Comparison
- Salman Khan's Bharat Movie, Hoists Pakistani Flag In Indian Soil; Locals Upset
- The Health Wonders of Arugula: The Mediterranean Wonder Plant
- Did You Know That Cashback On Shopping Is Taxable?
- Winter Destinations In Uttarakhand
- Lakshya Sen Enters Semifinals Of World Junior Badminton Championship
The world's most expensive number plate is now on sale in the United Kingdom. Owned by UK resident and Khan Design owner, Afzal Khan, the 'F1' number is now available for ownership at GBP 14,412,093.99 or Rs 132 crore.
‘F1' number plates are famous all over the world due to its obvious reference to Formula One. The exclusivity of the number plate has shot up its value. This particular registration number had seen its placement on cars such as Mercedes-McLaren SLR, Range Rover Autobiography, and most importantly, a Bugatti Veyron.
Afzal Khan bought the number plate for just Rs 4 crore in 2008. Until then, the Essex City Council had the ownership of the number since 1904; a period of 104 years.
The United Kingdom allows the citizens to have unique license plates on their cars. Of course, the more unique, the higher the cost of the number plate will be.
In the context of the 'F1' number plate, a Value Added Tax (VAT) of 20% has been imposed on the base price. The tax alone stands at around Rs 22 crore; another astonishing figure.
In the case of license plates, fewer figures/digits mean more value. This is also observed in India, where numbers such as ‘1', ‘7' or ‘47' cost a lot to get registered.
Thoughts On The Most Expensive Number Plate In The World
Fancy number plates are an efficient way to increase the Transport Department's revenue. If a person leads a successful life and owns an expensive car, he/she wouldn't have any problem spending a bit more to afford a unique number plate. Though fancy number plates are common in India, the level of uniqueness allowed as per the rules are very narrow.
In short, you cannot expect an 'F1' number plate in India.