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

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors...To read the full article Click Here..

Next Story
Real Estate

Serene Communities, Prathima Group Invest Rs 4 billion in Hyderabad

Serene Communities by Columbia Pacific, India’s largest senior living operator, has partnered with Prathima Group to develop two senior living projects in Hyderabad, marking its entry into Telangana. The collaboration represents an investment of Rs 4 billion, combining Serene’s international expertise with Prathima’s local development experience. The first project, Serene BILVANI One, launched in Shankarpally, is Hyderabad’s first premium senior living community. Designed for independent and active ageing, it features senior-friendly architecture, barrier-free design, and wellness..

Next Story
Infrastructure Urban

India remains our most important market

Foundamental, the world’s leading venture capital platform focused on the project economy, has launched its third fund to strengthen its presence in India, APAC, and other global markets. Led by Berlin-based Managing Partners Shubhankar Bhattacharya and Patric Hellermann, Fund III aims for a final close by the end of 2025. In an exclusive interaction with CW, Bhattacharya shares insights on the fund’s mandate, India’s role in their strategy, and the opportunities they see in the construction-tech and project-based sectors. Can you briefly explain Fund III’s mandate and how In..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?