Property Tax
The Indian real estate market is always attractive to Non resident Indians. This is because it is one of the safest investments as it gives better returns over time. Many NRIs own multiple properties in India and among them some properties are inherited. Real estate also has certain tax challenges like other investments. According to [...] Continue Reading »
Property tax collection has started for the year 2013-2014, but more than 50,000 property owners in Byatarayanapura, off Bellary Road are facing problems to pay tax online and making several trips to BBMP office. The hassle free online mode of property tax is not available for thousands of property owners in areas such as Vidyaranyapura [...] Continue Reading »
Chennai- Soon, the residents of Chennai will be able to pay their property tax in all 200 wards of the city. In this regard, the Chennai Corporation has directed the zonal level officers to identify suitable structures for setting up counters. The work of listing existing facilities in all wards would be initiated in next [...] Continue Reading »
The Bruhat Bangalore Mahanagara Palike (BBMP) has now extended the 50% rebate in property tax to ex-servicemen residing in the city. This came in a year after the State government issued a gazette notification. Though the gazette notification was issued on April 24, 2012, the BBMP had not implemented it. Due to this, several ex-servicemen, [...] Continue Reading »
Unsatisfied property owners in Mumbai are planning to move court over the new way of calculating property tax. There had been already many criticisms in the past against the imposition of property tax in Mumbai and its suburbs with retrospective effect. The property tax system based on capital value that has been planned recently but will [...] Continue Reading »
The three municipal corporations of Delhi have collected crores of rupees through property tax this financial year. East Delhi Municipal Corporation has collected Rs 140 crore and has been rated as the highest. There were 2,10,837 tax payers this year whereas, last year, the number of tax payers was 2,04,117. A corporation official said that [...] Continue Reading »
Hyderabad- The city will soon witness 100 percent hike in residential property tax. However, the property tax rates for commercial buildings in some of the areas may reduce. In this regard, the Greater Hyderabad Municipal Corporation (GHMC) will invite suggestions and objections from citizens on the new tax rates within seven days. The last revision [...] Continue Reading »
Lucknow- Lucknow Mayor Dinesh Sharma directed the corporation officials to form a committee in order to bring in transparency in the house tax assessment system and applicable interests on them. The decision came in following the complaints lodged by corporators about residents being overcharged and being compelled to pay compound interest during collection of taxes. [...] Continue Reading »
If you own a property near metro line, then you may have to shell out more tax. The growing prices of properties along metro lines are now being targeted by the central government to earn more revenue. The government has initiated a study to encourage Transit Oriented Development (TOD) in Delhi. Now, the Union Urban [...] Continue Reading »
Chennai- The Teynampet zone of Chennai Corporation has contributed the highest share in entire property tax collection from 15 zones in the financial year 2012-13. The zone has contributed 22 percent (Rs 103.84 crore) of total property tax collection of Rs 461.10 crore. The hefty collection from this zone was not a surprise for civic [...] Continue Reading »
