Nashik Civic Body Introduces Amnesty Scheme for Property Tax Defaulters

03 Oct 2024 CW Team

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.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..