Nashik Civic Body Introduces Amnesty Scheme for Property Tax Defaulters
Real Estate

Nashik Civic Body Introduces Amnesty Scheme for Property Tax Defaulters

The Nashik Municipal Corporation (NMC) introduced an amnesty scheme for property tax defaulters starting from October 1. According to the scheme, defaulters are eligible for up to a 95% waiver on penalties if they settle all dues between October 1 and November 30.

For those who pay in December, an 85% waiver on penalties will apply, and a 75% waiver will be granted for payments made in January.

NMC officials estimate that the total outstanding property tax currently stands at Rs 6 billion, which includes Rs 3 billion in penalties that have accumulated over the years.

The civic body imposes a 2% monthly penalty on unpaid property taxes and recovers costs related to notices and warrants issued to defaulters.

Officials indicated that this is the final opportunity for defaulters to clear their dues, warning that failure to do so during the amnesty period will result in property confiscation.

A similar scheme was introduced in October-November 2021, but it had limited success, with the NMC collecting only Rs 140.86 million from 17,560 defaulters. During that period, defaulters received a total penalty rebate of Rs 5.6 million.

This time, the NMC is optimistic about a better response, hoping that the significant reduction in penalties will encourage defaulters to pay their dues. The civic body has set a property tax collection target of Rs 2.50 billion for the current financial year.

By the end of September, the NMC had collected Rs 1.27 billion, slightly exceeding the Rs 1.25 billion collected during the same period the previous year.

The Nashik Municipal Corporation (NMC) introduced an amnesty scheme for property tax defaulters starting from October 1. According to the scheme, defaulters are eligible for up to a 95% waiver on penalties if they settle all dues between October 1 and November 30. For those who pay in December, an 85% waiver on penalties will apply, and a 75% waiver will be granted for payments made in January. NMC officials estimate that the total outstanding property tax currently stands at Rs 6 billion, which includes Rs 3 billion in penalties that have accumulated over the years. The civic body imposes a 2% monthly penalty on unpaid property taxes and recovers costs related to notices and warrants issued to defaulters. Officials indicated that this is the final opportunity for defaulters to clear their dues, warning that failure to do so during the amnesty period will result in property confiscation. A similar scheme was introduced in October-November 2021, but it had limited success, with the NMC collecting only Rs 140.86 million from 17,560 defaulters. During that period, defaulters received a total penalty rebate of Rs 5.6 million. This time, the NMC is optimistic about a better response, hoping that the significant reduction in penalties will encourage defaulters to pay their dues. The civic body has set a property tax collection target of Rs 2.50 billion for the current financial year. By the end of September, the NMC had collected Rs 1.27 billion, slightly exceeding the Rs 1.25 billion collected during the same period the previous year.

Next Story
Infrastructure Transport

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Next Story
Resources

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Next Story
Real Estate

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?