Nagpur Improvement Trust extends deadline for ground rent payment
Real Estate

Nagpur Improvement Trust extends deadline for ground rent payment

The Nagpur Improvement Trust (NIT) board has extended the last date for the payment of ground rent by three months. The board has also decided to put all the Gunthewari layouts under the NIT.

According to the rule, the holders are to pay the ground rent by March 31 each year. There are nearly 80,000 plot holders, out of which about 22,000 have paid the ground rent on the date.

The relaxation has come as a relief for the plot holders since many of the holders are facing a financial crisis due to the Covid-19 lockdowns.

MLA Vikas Thakre, NIT trustees, Prakash Bhoyar, the standing committee chairman, and Sanjay Bangale attended the meeting, summoned by Manoj Kumar Suryawanshi, Chairman of NIT.

As many as 58,000 plot holders will benefit from the relaxation.

Established in 1936, the Nagpur Improvement Trust (NIT), under the NIT Act of 1936, has shaped the city’s growth for many decades. Even after various attempts to merge the body with the Nagpur Municipal Corporation (NMC) on the ground that it is unconstitutional to have two civic bodies in a city, NIT has continued to work along with NMC, to ensure all-round development of Nagpur.

Image Source


Also read: Model Tenancy Act to make an effective rental market place in India

Also read: Approval of Model Tenancy Act allows to fill up 10 mn vacant homes

The Nagpur Improvement Trust (NIT) board has extended the last date for the payment of ground rent by three months. The board has also decided to put all the Gunthewari layouts under the NIT. According to the rule, the holders are to pay the ground rent by March 31 each year. There are nearly 80,000 plot holders, out of which about 22,000 have paid the ground rent on the date. The relaxation has come as a relief for the plot holders since many of the holders are facing a financial crisis due to the Covid-19 lockdowns. MLA Vikas Thakre, NIT trustees, Prakash Bhoyar, the standing committee chairman, and Sanjay Bangale attended the meeting, summoned by Manoj Kumar Suryawanshi, Chairman of NIT. As many as 58,000 plot holders will benefit from the relaxation. Established in 1936, the Nagpur Improvement Trust (NIT), under the NIT Act of 1936, has shaped the city’s growth for many decades. Even after various attempts to merge the body with the Nagpur Municipal Corporation (NMC) on the ground that it is unconstitutional to have two civic bodies in a city, NIT has continued to work along with NMC, to ensure all-round development of Nagpur. Image Source Also read: Model Tenancy Act to make an effective rental market place in India Also read: Approval of Model Tenancy Act allows to fill up 10 mn vacant homes

Next Story
Infrastructure Urban

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Next Story
Infrastructure Urban

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Next Story
Infrastructure Transport

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement