Defaulters
As per latest research report, BMC is yet to recover Rs 8,014 crore as it stands pending from defaulters in Mumbai. The civic body is set to change the rateable procedure of property tax collection to capital value-based. But this recovery of such large amount has come as a shock to the corporation. According to [...] Continue Reading »
One can indeed say that the work done by Indore Municipal Corporation (IMC) of recovering property tax is showing positive results. Around Rs 1 crore of property tax was collected by the corporation from the defaulters in a day. This has been a record so far and the officials are confident enough to meet the [...] Continue Reading »
Banks will now be relieved if the amendments to the Sarfaesi laws is done very soon! Under the proposed amendments in Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Sarfaesi), banks wil now be allowed to seize the defaulter borrower’s property in any case. They can even buy the asset [...] Continue Reading »
Greater Visakhapatnam Municipal Corporation is talk of the town due to bad collection of property tax and large debt this year. Apart from this, it is also facing problem in completing the projects in stipulated time under Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The debt has also risen to Rs 130 crore and for [...] Continue Reading »
A list made by Bruhat Bangalore Mahanagara Palike (BBMP) has a total of 558 property tax defaulters who have to pay tax of more than Rs 1 lakh. Among the list of the defaulters, some of the major IT companies are also included. Till now around Rs 1,100 crore property tax has been collected against [...] Continue Reading »
Greater Hyderabad Municipal Corporation (GHMC) has posted the names of top 1,000 defaulters on its website. By posting the names of the defaulters on its website the corporation wants to collect at least a part of the arrears. The corporation is making all efforts to collect tax dues from major defaulters. The defaulters , including [...] Continue Reading »
