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
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement