Revenue
Kolkata- While hunting the targeted revenue, Kolkata Municipal Corporation found that around 3000 properties around Behala and Jadavpur were not estimated. The civic body have been needy to find ways to improve income ever since the Unit Area Assessment method to regulate property tax dropped through. Khalil Ahmed, Municipal Commissioner, issued a circular to the [...] Continue Reading »
Bhubaneswar Municipal Corporation (BMC) has decided at a meeting of the BMC corporators to build three footbridges in Bhbaneswar. The bridges would be constructed at Jayadev Vihar, Master Canteen and Rupali Square and each footbridge would reportedly be developed at a cost of Rs 2.5 crore. As per the agreement, the contractor would make profit [...] Continue Reading »
In order to generate more revenue to fund infrastructure projects in Mumbai and other areas, Mumbai Metropolitan Region Development Authority (MMRDA) has sold land parcels in the Bandra-Kurla Complex (BKC) and Wadala. Over Rs 70,000 crore expected towards infrastructure projects in the next decade, the projects is in urgent need for alternate sources of revenue [...] Continue Reading »
The property tax in Mysore is likely to go up from 50 per cent to 500 per cent, once the amended Karnataka Municipal Corporations Act comes into force. The amended act paves the way for more revenue generation on the part of the city civic body. Before the amendment, the maximum rate of property tax [...] Continue Reading »
Nagpur Municipal Corporation, which has been facing severe fund crisis, can breathe a sigh of relief as this year’s revenue collection so far has increased significantly compared to the previous year. The NMC generated revenue of Rs 220.81 crore in the first four months (April-July) of 2012-13, registering a significant increase against the corresponding period [...] Continue Reading »
Auctions taken up recently by government agencies – the A.P. Housing Board and Hyderabad Metropolitan Development Authority (HMDA) included 42 plots in the city and the suburbs. As per plan, the HMDA has come up with a round of auctions that has placed the plots under the hammer and the civic body expects to raise [...] Continue Reading »
As suggested by the Centre, major states agreed to the plan of restructuring loan for power distribution companies (discoms) worth Rs 1.2 lakh crore, including revision of tariffs and roping in the private sector. The state government will take over half the short term outstanding loan after discoms issue bonds to lenders. The maturity of [...] Continue Reading »
Real estate market analysts say that the recent June-ending quarter left the realtors frustrated and disappointed as there was lower profit on the back of tighter margins, higher input costs and huge project inventory. According to analysts, Bangalore developers likely stood out with robust sales and several project launches, while Mumbai developers saw a recovery [...] Continue Reading »
The Maharashtra government has conceded that the recent raids conducted by state anti-corruption bureau (ACB) at the octroi check posts have resulted in a rise in revenue. Octroi being the highest sources of revenue for the corporation, which adds approximately Rs 4,500 to its fund, is also a source of revenue theft as a large [...] Continue Reading »
Andhra Pradesh government has increased the development charges imposed on builders for construction of buildings in the extended areas of Hyderabad Metropolitan Development Authority (HMDA) by 50 per cent. On July 12, the municipal administration and urban development (MA&UD) department issued the Government Order (GO). Hereafter, builders will now have to pay 75 per cent [...] Continue Reading »
