local body tax
The BMC recently has been the cause of much public despair and angst, for considering a proposal that would bring construction activity under the purview of local body tax (LBT). The recently introduced Local Body Tax (LBT) in Maharashtra empowers the local civil body to levy taxes on traders for importing goods into the city. [...] Continue Reading »
Wakad, a locality situated in the vicinity of IT hub and educational institutions, has been in the limelight lately. The locality has recently got maximum number of building permissions for projects for the fourth consecutive year. It has come at a right time when development of Wakad was the most need of the hour. It [...] Continue Reading »
With the new ready reckoner (RR) in place by the state government, the black market in real estate sector is going to get dull. The use of black money in real estate transactions will be minimal. As per experts, the revised RR rates are equal to market rates at most of the localities in Mumbai. [...] Continue Reading »
Brihanmumbai Municipal Corporations (BMC) has finally listened to the citizens’ woes. The civic body has taken steps to make the new property tax system transparent to the public. To start with, Stamp duty Ready Reckoner (SDRR) rates are now displayed on the official website of the civic body. The RR rates form the base value [...] Continue Reading »
Maharashtra Government has recently decided to raise ready reckoner (RR) rates in Mumbai by 30%. This is an excess hike compared to last year’s average increase of 12%. The increase in ready reckoner rates is going to affect properties in areas like Prabhadevi, Cuffe Parade and Worli. This increase has been levied from January 1, [...] Continue Reading »
Maharashtra Government is planning to increase the ready reckoner from January 1 in Greater Mumbai and rest of state. The rate will be increased by 5 percent in Greater Mumbai and 40 percent in rest of the state. This is done despite the ongoing slow down as the government estimates the increasing number of registration [...] Continue Reading »
The Pimpri Chinchwad Municipal Corporation (PCMC) is ready to start the local body tax (LBT) though it has not yet got green signal from the state government. They are preparing a report about the merits and demerits of the LBT and a game plan to implement the tax. The report will be ready and submitted [...] Continue Reading »
