AMC reduces property tax rebate from 75% to 50% for GIDCs

03 Feb 2022 CW Team

The Ahmedabad Municipal Corporation (AMC) will now reduce the property tax of Vatva, Naroda, Odhav and Kathwada to 50% from 75% to Gujarat Industrial Development Corporation (GIDC).

The standing committee is yet to give final approval to the proposal. Earlier, the civic body proposed the standing committee revising the rebate rate from 75% to 50%.

Earlier, AMC used to retain 25% of the total property taxes paid and returned 75% of the collected taxes to GIDC estates to carry out development and maintenance activities, including roads, water and sewerage.

According to an official, AMC collects nearly Rs 25-30 crore property tax per annum from GIDC estates like Vatva, Naroda, Odhav and the new industrial estate of Kathwada.

The official said that the civic body introduced this proposal to promote industrial activity in GIDC estates. Currently, the civic body is under financial stress due to the loss of revenue during the Covid-19 lockdown and plans to reduce the incentive.

Former president of Vatva Industries Association, Ankit Patel, told the media that property tax is a significant cost component for industries.The reduction in property tax will increase the compliance costs of the individual industries. It will also affect the industry associations. The maintenance of common infrastructure is already a challenge with a 75% rebate. The proposal of reduction will also be a challenge for the associations.

Image Source

Also read: Ahmedabad Municipal Corporation demolishes 3 illegal constructions

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..