02 May 2025

According to the Nagpur Municipal Corporation (NMC), 4.26 lakh property owners paid INR 259 crore in property taxes in the fiscal year 2024�2025, excluding INR 50 crore from government agencies. Despite offering rebates for online payments, only 33% of taxpayers utilized digital platforms, contributing INR 88.41 crore. The remaining 67% preferred offline methods, accounting for INR 170.93 crore. Zones like Laxmi Nagar and Mangalwari led in online collections, while areas such as Hanuman Nagar and Nehru Nagar showed higher offline contributions. The NMC faces challenges in bridging the digital divide and improving tax collection efficiency.Read more

02 May 2025

Earlier this week, the Lucknow Municipal Corporation (LMC) concluded its drive offering a 10% rebate to property owners who cleared their tax dues before the end of the month. This incentive was introduced to encourage prompt payments and support ongoing civic development projects. With the deadline now passed, the LMC has revised the rebate structure offering 8% for online payments and 6% for offline ones going forward. To ease the process, the civic body had set up multiple digital and physical channels for tax submission, emphasising the city's shift towards smart and efficient governance.Read more

02 May 2025

Chandigarh residents now have the option to pay their revised property tax at e-Sampark centres using previously received tax bills. The Municipal Corporation has updated its system to reflect the reduced tax rates, allowing payments via debit/credit cards, demand drafts, or at the e-Sampark centres. Taxpayers who pay by May 31 will receive a 20% rebate on residential properties and a 10% rebate on commercial properties. Any excess payments made under previous tax rates will be adjusted in the next financial year.Read more

02 May 2025

The Ahmedabad Municipal Corporation (AMC) has extended its advance property tax rebate scheme until May 30, 2025, following a strong response from taxpayers. The scheme offers rebates of up to 15% for early payments, with additional incentives for online transactions and consistent advance taxpayers. As of late April, over 395,000 residents had contributed approximately INR 482.89 crore in advance taxes, receiving a total rebate of INR 52.78 crore. The west zone led with over 123,000 residents making advance payments totaling INR 123.66 crore.Read more

01 May 2025

The Indian government is moving forward with plans to monetize Bharat Sanchar Nigam Limited's (BSNL) prime land assets, even though the company reported a profit of INR 262 crore in the third quarter of fiscal year 2024-25-the first since 2007. The National Land Monetisation Corporation (NLMC) has initiated the valuation process for approximately 35,591 square metres (8.7 acres) of BSNL's freehold land in five southern cities. This move is part of a broader strategy to reduce the debt of state-run telecom firms and generate resources for BSNL's revival.Read more

01 May 2025

Property owners in Bengaluru have called on the Bruhat Bengaluru Mahanagara Palike (BBMP) to extend the 5% property tax rebate deadline beyond April 30, citing technical issues with the BBMP portal. With the portal being inactive until April 5, property owners had limited time to make their payments. Additional confusion surrounding the new Solid Waste Management (SWM) user fee has further frustrated residents. Many are demanding a return to the previous waste management system and an extension of the rebate deadline to ease the situation.Read more

01 May 2025

India's capital markets regulator, SEBI, has barred Patel Wealth Advisors and its four directors from participating in the securities market following findings of a spoofing scheme that brought in illicit gains of INR 3.2 crore. The firm allegedly manipulated share prices by placing and cancelling large deceptive buy orders in 193 stocks, including Coffee Day Enterprises. SEBI's interim order prohibits them from trading and directs the recovery of illegal profits. The ban will remain in place while the regulator continues its investigation and prepares for a final ruling.Read more

01 May 2025

India Ratings projects a 3-4% increase in home prices for FY26, attributing this moderation to rising inventory levels and a deceleration in demand. Residential sales growth is expected to slow to 9% year-on-year, a decline from the 17% observed in FY25. While Tier I developers maintain resilience, the affordable housing segment continues to lose market share across major Indian cities. Notably, Bengaluru experienced the highest price surge in the first nine months of FY25, followed by the National Capital Region and Pune. The Mumbai Metropolitan Region accounted for the largest market share during this period.Read more

01 May 2025

Embassy Office Parks REIT has secured INR 675 crore through the issuance of commercial papers, aimed at repaying existing borrowings and meeting working capital needs. The short-term debt instrument carries a yield of 7.075% and will be listed on the Wholesale Debt Market segment of BSE. This move is part of the REIT's broader financial strategy to manage liabilities and improve cash flow. In a similar move earlier, the REIT had raised INR 1,000 crore via non-convertible debentures to refinance loans and reduce interest costs, reinforcing investor confidence in its credit profile.Read more

01 May 2025

The Bruhat Bengaluru Mahanagara Palike (BBMP) has extended the 5% property tax rebate deadline for FY 2025-26 to May 31, 2025, offering relief to property owners facing technical issues and confusion over the new Solid Waste Management (SWM) fee. The rebate was originally available only until April 30, but the BBMP portal's delayed functionality and public requests prompted the extension. Approved by the Urban Development Department under Section 144(8) of the BBMP Act, 2020, the move allows taxpayers paying in full by the new deadline to still claim the rebate. The decision aims to ease taxpayer concerns and improve municipal responsiveness.Read more