NMC passes resolution for property tax exemption up to 500 sq ft
Real Estate

NMC passes resolution for property tax exemption up to 500 sq ft

The property tax committee of the Nagpur Municipal Corporation (NMC) has passed a resolution for the exemption of property tax for residential properties of up to 500 sq ft.

The plan was presented before the standing committee, followed by the general body and state government.

Mahendra Dhanvijay, a committee member, said that the government has decided to extend the benefit of properties in Mumbai. It will benefit the poor people, and the resolution should also be taken for the city.

CM Uddhav Thackeray announced that the Brihanmumbai Municipal Corporation (BMC) would exempt property tax of residential properties up to 500 sq ft. The urban development department of the state will implement the plan in April. Around 16.14 lakh houses are expected to get relief of Rs 426 crore from CM's decision.

After the decision, three legislators, including Vikas Thakre, Congress City President, Pravin Datke, Bharatiya Janata Party (BJP) City President and Krishna Khopde, Former City President BJP, urged the CM to extend relief to the entire state.

Image Source

Also read: Property tax waiver for homes less than 500 sq ft

The property tax committee of the Nagpur Municipal Corporation (NMC) has passed a resolution for the exemption of property tax for residential properties of up to 500 sq ft. The plan was presented before the standing committee, followed by the general body and state government. Mahendra Dhanvijay, a committee member, said that the government has decided to extend the benefit of properties in Mumbai. It will benefit the poor people, and the resolution should also be taken for the city. CM Uddhav Thackeray announced that the Brihanmumbai Municipal Corporation (BMC) would exempt property tax of residential properties up to 500 sq ft. The urban development department of the state will implement the plan in April. Around 16.14 lakh houses are expected to get relief of Rs 426 crore from CM's decision. After the decision, three legislators, including Vikas Thakre, Congress City President, Pravin Datke, Bharatiya Janata Party (BJP) City President and Krishna Khopde, Former City President BJP, urged the CM to extend relief to the entire state. Image Source Also read: Property tax waiver for homes less than 500 sq ft

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront. The corporation has fixed a ..

Next Story
Infrastructure Urban

Andhra Pradesh to Connect Over One Million Streetlights

Andhra Pradesh will undertake a statewide smart streetlighting programme across all 123 Urban Local Bodies (ULBs), bringing around 1.05 million (mn) streetlights under an AI enabled monitoring and management system. The programme will be implemented by Energy Efficiency Services Limited (EESL) with the Commissioner and Director of Municipal Administration under the state Municipal Administration and Urban Development Department. The project aims to convert conventional streetlighting into a digitally managed municipal service monitored and maintained remotely. The initial phase will cover abou..

Next Story
Infrastructure Urban

AMC To Procure Four Machines For Guard Rail Cleaning

Ahmedabad Municipal Corporation will introduce four specialised machines for cleaning guard railings along major roads and the central verges of BRTS and Metro corridors. The civic body plans to replace manual labour with mechanised cleaning to improve maintenance of road infrastructure and greenery. The purchase is estimated at Rs 82.8 million (mn), excluding GST. The proposal sets the base price of each machine at about Rs 20.7 million (mn) so four units total Rs 82.8 million (mn) before GST. 18 per cent GST will be applicable separately. During the warranty period each machine will operate ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement