Real Estate Forum on Property Tax in Coimbatore

Latest Answer: Hi All, I would like to known what are the different kinds of properties that are liable to be taxed under property tax in India?

Latest Answer: the corporation has said that water connection of those who have not paid property tax, and water charge for the first half-year by October 15 will be disconnected. In case of apartments, even if one of the consumer had not cleared the tax dues, the connection to the entire apartment complex would be cut.

Latest Answer: I have heard that almost 95 per cent of Customs revenue came from gold import. Basic export commodities were textile machinery and garments. Also, to promote exports, Rs. 72.71 crore has been sanctioned as drawback and Rs. 110 crore as rebate till January this year.

Latest Answer: The corporation is really strict about the payment of taxes right now. If the assessees failed to pay tax within the next few days, the civic body said it would not hesitate to sever connection, and property owners with dues should come forward to pay the first half-year tax within the period.

Latest Answer: Ill explain that. Every year the Corporation receives applications for name transfers due to sale of properties, transactions, execution of wills and transfer of properties to legal heirs. which involve property name change. For every such name change, the Coimbatore Corporation will collect Rs. 200 or 0.1% of the property value – whichever is higher.

Latest Answer: It is very simple to pay for property tax in Coimbatore through the online payment portal in the official corporation website. All you need is the new assessment number (you will need to sign up to get this), either Google Chrome or Internet Explorer on your laptop or computer and a good internet connection. However, if you use this service there is an extra 1.85% and a service charge of 12.36% of the payment amount. After the payment, the original receipt will be sent to your address as mentioned during registration process, within 5 working days from the time of receiving the payment.

Latest Answer: Hey guys property tax payers in Coimbatore will now have to think twice before defaulting as the city municipal corporation (CCMC) is planning to sever the water supply lines in case of defaulters

Latest Answer: what is stamp charges and is there any other charges for registration.

Latest Answer: Stamp duty is typically taxed when you are buying immovable property. Some states in India levy their own stamp duties, while the others. just follow the central Stamp Act of 1899. In Tamil Nadu, the standard stamp duty rate is 7% of the total market value of the property. But recently, in 2013, an extra stamp duty of 1% was introduced for registering the construction agreement. So you can now think of it as 8% for practical purposes. You can pay the stamp duty by buying stamp paper of the same amount and printing the sale deed on them or by simply getting the sale deed franked.

Latest Answer: The taxes you have to pay for registering your property with the corporation are – Stamp Duty – 7% for the sale deed and extra 1% for construction agreement Registration Fee – 1% for registration of documents pertaining to your undivided share of land and extra 1% for registration of construction agreement Value Added Tax or VAT – 1% of total construction cost or you can pay an estimated percentage of individual item. Service Tax – 4.12% of total construction cost.