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Financial crunches often strikes NMC as the civic body have not recovered Rs 50 crore property tax from the owners. Around 4,105 property tax defaulters owe Nagpur municipal corporation (NMC) crores of rupees as property tax. A total of 674 defaulters owe tax dues ranging between Rs 50,000 and over Rs 1 lakh in Laxmi [...] Continue Reading »
Around 27 shops that have evaded property tax for two years are now under the scanner of Indore Municipal Corporation (IMC). The shops are located at Shagun, one of the commercial buildings in the posh Scheme No 54 area. It was recorded by an assistant revenue officer that 27 shops, sized between 700 to 3,200 [...] Continue Reading »
Residents of Perumbavoor have demanded the closure of nearby plywood factories, as the factories allegedly polluting nearby areas. People have staged a hunger strike demanding the closure of these factories. There are around 800 plywood factories now in this area, an increase of 500 since it started. Most of these factories are situated near canals, [...] Continue Reading »
The residents of Subhash Nagar have decided to fill a dug up road by themselves after being tired of complaining to the civic authorities. The dug up in the middle of the road resulted in several accidents and yet the authorities did not take any action. Not only the dug up road, missing streetlights also [...] Continue Reading »
The draft Land Acquisition Bill which was recently cleared by a group of ministers will be placed before the cabinet at the time of winter session. The proposed new draft bill was rechristened as the Right to Fair Compensation, Resettlement, Rehabilitation and Transparency in Land Acquisition Bill will not only make the land acquisition more difficult [...] Continue Reading »
All residential and commercial properties, vacant plots and semi-built have come up into the purview of tax with Punjab government imposing property tax. A 10% early payment rebate will be given for all who pay property tax by June 30 every year, according to the ordinance. It added that heavy penalty will be imposed on [...] Continue Reading »
It is demanded that the Nagpur Municipal Corporation (NMC) should reduce water tax from the people who do not have NMC water connection or else NMC will have to face protest, said ex-corporator and NCP leader, Vedprakash Arya. Currently NMC charges 40% of tax from general tax payers. 15 % of waster tax was being [...] Continue Reading »
Despite the higher interest rates and economic slowdown, housing prices remained firm followed by limited supply, according to a Nomura report. The supply has also been limited for fewer projects in key markets like Mumbai, Delhi and other dues to the government approval delays. A recent report by the Reserve Bank stated that the house prices [...] Continue Reading »
CREDAI, the realty developers apex body was quite unhappy and resented against the Union Government’s decision of proposing the mandatory reservation of 35% of dwelling units built for the economically weaker sections (EWS). The CREDAI memorandum addressed to Union Minister for Housing and Poverty Alleviation, Mr Ajay Maken that such a drive without any incentives to the developer community will only burden [...] Continue Reading »
The pressure in the real estate sector has affected the home loans. The new home loan accounts fell by 38% in June quarter this year over the same quarter in 2011. Rs 854.55 crore to 23,241 account holders from April to June 2011was disbursed by the member banks State Level Banking Committee (SLBC). But this [...] Continue Reading »
