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When should a housing society in Mumbai start considering re...
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Stay ahead in the world of real estate with our daily podcas...
02 Apr 2025
The Bidhannagar Municipal Corporation has extended the deadline for property tax payments for the 2024-25 financial year. Online payments will be accepted until April 5, while cash payments must be made by April 4. The civic body aims to boost tax collection and has set a target of INR 44 crore for this year. Efforts are also underway to introduce the Bharat Bill Payment System for added convenience. Additionally, a uniform tax structure is being planned across all 41 wards.
01 Apr 2025
The Ulhasnagar Municipal Corporation (UMC) has released a list of the city's 100 largest property tax defaulters, which includes properties owned by politicians and prominent builders. Despite the implementation of the Abhay Yojana scheme, offering up to 100% relief on late payment fees, many property owners have not cleared their dues. The UMC warns that if these defaulters fail to settle their outstanding taxes, the corporation may initiate property seizures and auctions. Currently, out of 183,550 properties within UMC limits, there are arrears totaling INR 833.30 crore, with only INR 126 crore recovered as of March 22, 2025.
01 Apr 2025
Authorities in Gautam Budh Nagar have proposed a circle rate hike ranging from 20% to 70%, a move that could significantly impact homebuyers and property investors. If approved, this increase will raise the minimum property valuation for stamp duty calculations, making real estate transactions more expensive. Higher circle rates could also influence market prices, affecting affordability in Noida, Greater Noida, and surrounding areas. The proposal is currently under review, with stakeholders expressing concerns over its potential impact on housing demand and investment in the region. Experts predict that this move may impact demand, especially for affordable housing projects.
01 Apr 2025
The Kolhapur Municipal Corporation has announced a INR 1,335 crore budget for the 2025-26 fiscal year, keeping property and water tax rates unchanged for the fifth consecutive year. While maintaining stable tax rates, the budget includes a 10% hike in user charges for municipal services. The move reflects the civic body's focus on revenue generation without significantly burdening property owners. The budget also prioritises infrastructure upgrades and public services, ensuring that urban development continues while maintaining affordability for residents and businesses in Kolhapur.
01 Apr 2025
Coimbatore has recorded a 14.42% increase in revenue from property registrations in the financial year 2024-25, reflecting strong real estate activity in the region. The surge is attributed to rising property transactions, government incentives, and improved infrastructure. The Coimbatore Municipal Corporation has also launched a Geographic Information System (GIS) mapping initiative for Open Space Reservation (OSR) lands to enhance urban planning and prevent land encroachments. Authorities believe that this step will help identify unutilised lands, streamline property-related documentation, and support infrastructure growth in the city. The move is expected to benefit both policymakers and citizens by improving access to accurate land records and urban planning data.
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01 Apr 2025
The Lucknow Municipal Corporation has introduced a new service enabling residents to access their property tax details and payment links via WhatsApp. This initiative is part of the civic body's digital transformation efforts aimed at improving taxpayer convenience and boosting collections. Citizens can now receive tax notifications, check dues, and make payments through the messaging platform. Officials expect the move to increase compliance and reduce delays in tax payments. The user-friendly digital initiative aligns with broader smart city goals to modernise municipal services and enhance efficiency.
01 Apr 2025
The Mohali Municipal Corporation has exceeded its property tax collection target for the financial year 2024-25 by 10%, demonstrating improved taxpayer compliance and administrative efficiency. Officials attribute this achievement to enhanced digital payment options, awareness campaigns, and enforcement measures. The increased revenue will be utilised for infrastructure development and urban maintenance projects. Authorities are optimistic about maintaining this momentum in the coming years, with further efforts to simplify tax payments and incentivise timely compliance, thereby strengthening the city's financial position for future growth.
31 Mar 2025
The Property Tax Department of the Navi Mumbai Municipal Corporation (NMMC) has decided to auction seized properties with outstanding tax dues. Notices have been issued to 454 property owners across eight wards, urging them to clear their arrears immediately to avoid auction proceedings from April 2025. Under the Maharashtra Municipal Corporation Act, properties with unpaid taxes face seizure and subsequent auction. To facilitate the process, authorised government valuers are being appointed. Additionally, NMMC has introduced the 'Abhay Yojana', offering a 50% waiver on late payment charges until the end of March 2025, with tax payment centres remaining open on weekends.Read more
31 Mar 2025
The Adani Group has expressed interest in acquiring Jaiprakash Associates Ltd (JAL) by submitting an Expression of Interest (EOI) during its ongoing insolvency proceedings. JAL, the flagship firm of the Jaypee Group, operates in sectors including cement, power, hotels, construction, and real estate. As of February 20, 2025, the company reported outstanding loans totaling INR 55,493.43 crore. The National Company Law Tribunal (NCLT) has mandated that any resolution plans should consider acquiring JAL as a whole, rather than dividing its various business segments.
31 Mar 2025
Approximately 3.49 lakh property owners in Bengaluru have defaulted on property tax payments, accumulating a total debt of INR 390 crore to the Bruhat Bengaluru Mahanagara Palike (BBMP). Of these, 1.73 lakh are chronic defaulters, having consistently failed to pay taxes over several years despite multiple notices and reminders. The highest number of defaulters are in Mahadevapura (81,481), followed by Bommanahalli (57,786) and RR Nagar zones (47,873). BBMP has collected INR 4,604 crore in property tax for the 2024-25 fiscal year, achieving approximately 88.36% of its target of INR 5,210 crore.
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