A delegation of AAP legislators met DMRC Managing Director Mangu Singh and said the corporation should find other means to increase its revenue.
The party threatened to stage protests if the DMRC went ahead with its decision to hike the fare.
According to the 2002 Delhi Metro Railway Act, recommendations made by the fare fixation committee have to be binding on the metro administration.
The legislators said the proposed hike in fare was being considered without taking into account the views of the elected government of Delhi and the elected representatives.
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"What is disturbing is that the DMRC is violating the law by which it was set up in 2002, through its wrong decision of hiking fare twice within six months," they said in a memorandum to the DMRC.
If the proposed hike comes into effect, the fare will go up by a maximum of Rs 10.
Five-12 kilometres costs Rs 20, 12-21 kilometres - Rs 30, 21-32 kilometres - Rs 40 and beyond 32 kms Rs 50 is charged.
From October 10, the charge for travelling up to two kilometres would remain the same. But the tariff structure for travel beyond that distance would change.
For travel between two and five kilometres, the tariff would increase by Rs 5, and it will cost Rs 20.
The subsequent slabs would go up by Rs 10 each, meaning the maximum fare will be Rs 60.