property tax
Chandigarh- A revision of property tax rates in residential areas in Chandigarh will be performed by the committee of local bodies department. The Municipal corporation had imposed nominal property tax of Re 1 per square yard annually on residential properties having an area above 125 square yard. This amount paid will be restricted to Rs [...] Continue Reading »
Commercial property located within a radius of one kilometre from any metro line in Delhi is likely to witness a hike in property tax very soon. The three new municipal corporation heads have given a positive nod for the move. Considering the assembly elections scheduled next year, residential properties will be excluded from the hike. [...] Continue Reading »
The new property tax system proposed by Brihanmumbai Municipal Corporation (BMC) has been challenged by a PIL in the Bombay High Court recently. The new property tax bill will be applicable from April 1, 2013 but has been caught amidsr many controversies. An activist named Rajendra Thacker has filed the PIL which states that the [...] Continue Reading »
The new property tax system by Brihanmumbai Municipal Corporation (BMC) has been opposed by the real estate builders. The developers have even showed their support to consumer associations protesting against the tax system. According to the new system, the property tax is computed based on the capital value of the property as against the earlier system of going [...] Continue Reading »
Buyers Alert! Home buyers in India will have to think twice before buying luxury homes with price tags of over Rs 50 lakh. The home buyers who have already booked under construction apartments that cost over Rs 50 lakh will have to pay one percent tax deducted at source (TDS) and this tax burden is [...] Continue Reading »
Property owners who are staying within 500 metres radius and along the outer ring road (ORR) need to pay betterment tax. MUDA has proposed to impose tax on the property owners to generate more revenue. The civic body is planning to collect Rs 20 crore in the next fiscal from the proposed betterment tax. If [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) has given a relief to the residents of Mumbai by announcing an extension in dates for payment of property tax. Now, the last date for paying the new capital value based property tax is extended by three months. However, an official announcement is yet to be made. For many days, citizens [...] Continue Reading »
Residents of housing societies in Mumbai are planning to stage a dharna and one day hunger strike at Azad Maidan to protest the new property tax system. The major concern of the residents lies with the ground realities which affects a property’s price, are not taken into consideration in the ready-reckoner rates. They claim it [...] Continue Reading »
As a new tax collection strategy the South Municipal corporation Property Tax department recently announced its employee incentive scheme. This new scheme directs at refining the employee work culture within the property tax department and to motivate them to perform better and meet desired targets. According to the incentive scheme, the zone will be eligible [...] Continue Reading »
Pimpri Chinchwad Municipal Corporation (PCMC) has recently sealed about 30 properties in the city for not paying property tax in time. The property tax department of the civic body had already sent notices to these properties in Pune and 353 prominent defaulters had been reminded for not paying the taxes in the given time frame. Around [...] Continue Reading »
