Revenue
In a noteworthy step taken up by the Nagpur Municipal Corporation (NMC), a special drive held for two days at all ten zone offices saw settling of 800 pending cases. The property owners’ applications were stuck for over a year even after they had submitted all the required documents. Most of the cases involve issuing [...] Continue Reading »
The Kolkata Municipal Corporation (KMC) is set to introduce a new system for property tax payment which is believed to ease out the method of tax-paying and generate more revenue to the government. The new method denies visits of corporation inspectors as they are presently doing. The tax-payers will have to make a self-assessment of [...] Continue Reading »
In order to increase revenue from property tax, Nagpur Municipal Corporation has set new targets for revenue inspectors across 10 zones. Property tax inspectors have been directed to identify 75 new properties each that are not being taxed in their zones in this financial year. According to a senior official, Laxmi Nagar zone has 16 [...] Continue Reading »
The district collector of Madurai, Anshul Mishra, warned the local bodies, including the Corporation, against granting individual and random approvals to building plans because of which the government is losing revenue. He also said that if they continued to do so then their authority will be withdrawn. As per Section 49 of the local planning [...] Continue Reading »
Residents of Bhopal are waiting for Bhopal Municipal Corporation (BMC) budget for a reason. They have been deprived of basic amenities in the localities with problems like poor condition of roads. The last year’s budget Rs 50 lakh has not been utilised and is likely to lapse by March 31. Due to which, the civic [...] Continue Reading »
For the financial year 2012 and 2013 the Hyderabad Metropolitan Development Authority (HMDA) has new set of realty plans! It has decided to sell plots and huge lands to dry out completely from financial crisis. With the release of recent budget, the HMDA executive committee approved a budget outlay of Rs 2,938 crore. Rs 973 [...] Continue Reading »
The present real estate market trend is not showing raise according to the expectations. To overcome this situation and get a quick inflow, the apartment builders in Mumbai have planned to reduce the built up area for their real estate projects in Mumbai. The main agenda behind builders having plan of reducing in built up [...] Continue Reading »
The property tax defaulters are getting sharper day by day! Bruhat Bangalore Mahanagara Palike (BBMP) which is already deprived of finance is being cheated by the tax defaulters. The civic body had so much debt on it because of less property tax paid and had to meet a revenue target. However, on its tax collection [...] Continue Reading »
Sobha Developers, a Bangalore based real estate developer is eyeing on more revenue in 2011-12. As per report, they are expecting a revenue of Rs 1,500 crore from their sales in the fiscal year 2011-12. The company has already sold 818,935 square feet in the fourth quarter of October- December 2011 at Rs 5,475 per [...] Continue Reading »
Jubilee Hills Landmark will see the light of the day very soon, thanks to Mantri Developers. The project was being handled by joint efforts of Maytas Properties and Satyam Group in Hyderabad. But since Ramalinga Raju was found in the accounting fraud case, the project has been under wraps. Now, Bangalore based Mantri Developers has [...] Continue Reading »
