Residents of Malaysian Township oppose I-T orders
The residents of the Malaysian Township project in Hyderabad are enraged by the attachment notice issued by the local Income Tax (I-T) department on 13th of June.
The department issued an attachment order on the developer of the township, Swarnandhra-IJMII Integrated Township Development Company Pvt Ltd (SITCO), for nonpayment of tax of Rs 54 crore. Until further orders, the company is not supposed to take any benefit of the property.
Provoked by the incident, the residents of the city’s largest township said that the orders have to be cancelled soon as it is illogical since the township presently belongs to the residents.
Residents are anxious as they might lose part of their common amenities space and green zone along with the commercial plots that have still not been developed by SITCO.
To read more real estate news:
GHMC seeks support from corporates
Real estate regulatory bill is passed in Andhra Pradesh Assembly
Source: The Times of India
Amenities, Commercial plots, Green zone, Hyderabad, Income Tax (I-T) department, largest township, Malaysian Township, nonpayment, Property, Residents, SITCO, Swarnandhra-IJMII Integrated Township Development Company Pvt Ltd (SITCO), Tax
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