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

11 Jan 2022 CW Team

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

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..