28 Jan 2025

The Ahmedabad Municipal Corporation (AMC) reported a 9.82% increase in property tax revenue, rising from INR 1,175.04 crore in 2023-24 to INR 1,290.47 crore in 2024-25. The central zone saw the highest growth at 29.96%, while the northwest zone followed with a 20.61% rise. However, the west zone experienced a 5.95% decline due to reassessment delays, with collections dropping to INR 280.39 crore. AMC aims to complete tax bill distribution by January-end, expecting revenue to rise in February and March. Efforts to streamline reassessment and billing processes are crucial for sustaining revenue growth.Read more

28 Jan 2025

The Indian residential real estate market experienced a 9% decrease in sales, totalling 470,899 units in 2024, with new supply falling by 15% to 411,022 units. Contributing factors included the General Elections and Monsoon-related slowdown. Among the nine cities analysed, Navi Mumbai recorded the highest sales growth (16%), while Hyderabad saw the steepest decline (25%). On the supply front, Delhi-NCR led with a 54% increase, whereas Hyderabad saw a 49% drop. PropEquity highlighted the resilience of the market, noting stable supply-to-absorption ratios despite these fluctuations, signifying a healthy sector.Read more

28 Jan 2025

Build Capital, an early-stage real estate fund, has made its first investment in Navi Mumbai by partnering with Satyam Group. This move aligns with its strategy to focus on the Mumbai Metropolitan Region (MMR) for early-stage real estate financing. The company aims to invest approximately INR 150 crore in Navi Mumbai as part of its overall INR 400 crore target for 2025. Since its inception in April 2024, Build Capital has already facilitated transactions worth INR 100 crore, entering new segments like CIDCO plot developments. The firm plans to double its team and streamline capital deployment for real estate developers, leveraging its expertise to fill critical financing gaps in the sector.Read more

27 Jan 2025

The Hubballi-Dharwad Municipal Corporation (HDMC) has launched the e-AASTHI Tax Mela to facilitate property registration and tax payment, aiming to achieve full implementation of the digital system. Inaugurated by District Minister Santosh Lad, the mela offers dedicated counters for online registration and document updates. With 100,000 of 330,000 properties already registered, HDMC aims to improve compliance and reach its INR 141 crore tax target by March 2025. The initiative provides on-the-spot assistance, enhancing public services and encouraging timely tax payments to support the region's financial health and governance.Read more

27 Jan 2025

Aligarh Muslim University (AMU) has been issued a notice by the Aligarh Municipal Corporation (AMC) to clear pending house tax dues of INR 24.4 crore within 15 days, failing which legal action may follow. The dues, linked to 18 properties, have accumulated since 2017. AMC has warned of account attachment if payments are delayed. AMU officials confirmed they are awaiting a grant from the UGC to settle the amount. The case underscores the financial strain on educational institutions reliant on government funding and raises questions about managing tax obligations and financial planning in the sector.Read more

27 Jan 2025

The Ahmedabad Municipal Corporation (AMC) has intensified efforts against property tax defaulters, sealing 1,218 properties in the East Zone and 239 in the South Zone, recovering INR 65.62 lakh. Defaulters have been warned of service disconnections and potential property auctions if dues remain unpaid. AMC's tax collections have dropped to INR 1,695.54 crore for FY 2024-25, only 78.76% of last year's INR 2,152.82 crore, raising financial concerns. The corporation plans to enhance tax compliance through public awareness and digital payment solutions to ensure continued funding for essential services and infrastructure development across Ahmedabad.Read more

27 Jan 2025

The New Town Kolkata Development Authority (NKDA) has initiated property tax collection and mutation camps at residential complexes, aiming to boost compliance and revenue before the financial year ends in March. These on-site camps offer a hassle-free way for residents to update property records and pay taxes without visiting government offices. NKDA officials are providing guidance on documentation and tax processes, encouraging apartment owners to participate. With a growing population, the initiative aims to streamline tax collection, ensure accurate property records, and support the sustainable development of New Town.Read more

27 Jan 2025

The Bhubaneswar Municipal Corporation (BMC) has launched two digital platforms to enhance municipal services and improve market operations. In collaboration with a private bank, BMC developed a WhatsApp chatbot that allows residents to pay property taxes, trade license fees, and user charges while submitting grievances conveniently via smartphones. Additionally, Emer RND Solutions Pvt. Limited created a market/vending zone rental collection application, which BMC introduced to automate rental collections and enable real-time payment tracking. These initiatives aim to transform urban governance, streamline revenue processes, and promote transparency, reinforcing BMC's commitment to efficient, citizen-centric service delivery and sustainable urban development.Read more

24 Jan 2025

The Patna Municipal Corporation (PMC) has launched a 13-day campaign targeting property tax defaulters, beginning with visits to seven properties on Exhibition and Jamal Roads. Five owners cleared dues on the spot, while two sought extensions. With 491 defaulters identified citywide, PMC's efforts have raised daily collections to INR 22 lakh, with a target of INR 200 crore for 2024-25. Past tax drives funded urban improvements like infrastructure upgrades and waste management, and the current campaign aims to replicate this success. By intensifying enforcement and encouraging compliance, the PMC is boosting fiscal health and supporting Patna's urban development.Read more

24 Jan 2025

The Mysuru City Corporation's (MCC) recently launched e-khata drive has significantly boosted revenue, with December collections rising by INR 1.7 crore compared to November, reaching INR 9.3 crore. The initiative required property owners to clear five years of pending property tax and water cess dues to obtain digitally processed khatas. Over 2,500 property owners settled arrears, addressing key revenue streams. MCC officials attributed the success to effective public awareness efforts and the scheme's structure, which motivated compliance. The drive showcases how innovative approaches and community engagement can enhance municipal governance and financial health, setting an example for similar initiatives elsewhere.Read more