Nashik civic body buys 36k new properties under tax net in Apr-Jan
Real Estate

Nashik civic body buys 36k new properties under tax net in Apr-Jan

The Nashik Municipal Corporation (NMC) has brought about 36,000 new properties under the tax net in the April-January period in FY22.

The properties under tax ambit have increased to 4.96 lakh in Nashik, from which 15,000 new properties have been bought by NMC in the November-January period.

According to NMC's property tax department, the municipal corporation would earn Rs 18 crore extra through these new properties. These properties also include 24,000 properties identified during the housing survey of no occupancy certificates (OCs) received from the town planning department of NMC.

An official said that the civic body had surveyed all the properties through a private agency and found 59,000 new properties were not under the tax net. These new properties were being used without the Building Completion Certificate (BCCs).

NMC targets Rs 160 crore collection of property tax in FY22 but reduced to Rs 140 crore due to a drop in revenue collection because of the Covid-19 pandemic.

To date, the civic body has collected Rs 120 crore tax and expects to add Rs 20 crore more by the end of FY22.

Image Source

Also read: Nashik Municipal Corp to conduct GIS mapping of the entire city

The Nashik Municipal Corporation (NMC) has brought about 36,000 new properties under the tax net in the April-January period in FY22. The properties under tax ambit have increased to 4.96 lakh in Nashik, from which 15,000 new properties have been bought by NMC in the November-January period. According to NMC's property tax department, the municipal corporation would earn Rs 18 crore extra through these new properties. These properties also include 24,000 properties identified during the housing survey of no occupancy certificates (OCs) received from the town planning department of NMC. An official said that the civic body had surveyed all the properties through a private agency and found 59,000 new properties were not under the tax net. These new properties were being used without the Building Completion Certificate (BCCs). NMC targets Rs 160 crore collection of property tax in FY22 but reduced to Rs 140 crore due to a drop in revenue collection because of the Covid-19 pandemic. To date, the civic body has collected Rs 120 crore tax and expects to add Rs 20 crore more by the end of FY22. Image Source Also read: Nashik Municipal Corp to conduct GIS mapping of the entire city

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Covestro Joins KOLLEKT Circular Automotive Research Project

Covestro has joined the KOLLEKT research project, a three-year initiative focused on developing recyclable automotive lighting, mechatronic and electronic components through circular product design and advanced recycling technologies.The project brings together FORVIA HELLA as coordinator alongside BMW, Covestro, Geba, Fraunhofer IEM, Fraunhofer UMSICHT, the University of Paderborn, Hamm-Lippstadt University of Applied Sciences, Helmholtz-Zentrum Dresden-Rossendorf and SW Maschinenservice.Running from June 2026 to May 2029, KOLLEKT is funded by the German Federal Ministry for Research, Technol..

Next Story
Infrastructure Urban

Dreamfly Innovations Wins Nasscom Emerge 50 Recognition

Dreamfly Innovations, a next-generation drone battery solutions provider, has been recognised as a Nasscom Emerge 50 winner in the Climate Tech and Sustainability category.The recognition highlights the company’s work in developing advanced battery technologies aimed at enabling safer, cleaner and more efficient drone and aviation operations.The Nasscom Emerge 50 programme recognises technology startups developing innovative solutions to real-world challenges through research and engineering. The recognition also reflects the growing role of deep-tech startups in India’s innovation ecosyst..

Next Story
Infrastructure Urban

Capacit'e Infraprojects Q1 Revenue Rises 7% to Rs 6.29 Billion

Capacit'e Infraprojects reported a 7% year-on-year increase in consolidated revenue from operations to Rs 6.29 billion in Q1 FY27, compared with Rs 5.89 billion in Q1 FY26.The company said revenue growth during the quarter was affected by a shortage of workmen during the first half of the period.EBITDA stood at Rs 0.99 billion, down 3% from Rs 1.02 billion in Q1 FY26, while EBITDA margin moderated to 15.7% from 17.2%. EBIT declined 8% to Rs 0.80 billion, with an EBIT margin of 12.5%.Profit after tax stood at Rs 0.40 billion compared with Rs 0.47 billion in the corresponding quarter of the prev..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement