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 Transport

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

Next Story
Infrastructure Urban

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Next Story
Infrastructure Urban

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement