Haryana announces major relief in property tax
Mar 04, 2014
Source : The Times of India


DELHI: Ahead of the Lok Sabha polls, the Haryana government has announced a major relief in the payments of property tax in the municipalities of the state.

The Chief Minister, while presiding over the State Cabinet meeting, February 26 announced one time rebate of 30 per cent for those property owners who clear all their dues or arrears upto year 2012-13 by March 31, 2014.

However, mobile phones costing above Rs 10,000 would be more expensive, with the cabinet deciding to increase VAT to 8 per cent from 5 per cent at present. The government has also announced a rebate of ten per cent admissible to those assesses who pay their total tax for the assessment year by July 31 of that assessment year, a statement said.

For the year 2013-14, the concession of ten per cent would be admissible to those assesses who deposit their dues by March 31, 2014.

He said that 100 per cent rebate would be given till March 31, 2016 to properties situated in ‘Lal Dora’ (land which is part of the village habitation) of those villages, which have come in the limits of the municipalities on or after April 1, 2010.

The chief minister also announced 50 per cent cut on property tax on petrol pumps. Similarly, 50 per cent rebate in commercial space rate has also been given to IT park, cyber city or parks of all municipalities. The flats constructed over an area of 2,000 square feet would also get 50 per cent cut in property tax. This will benefit about 80 per cent flat owners in the state.

The Cabinet also approved to reduce the VAT rates on scientific instruments under the Haryana Value Added Tax Act, 2003. The scientific instrument industry of Ambala has been demanding for the reduction of the VAT on equipments to 5 per cent from 12.5 per cent at present.

Latest Realty News

Delhi Wakf Board to get 123 properties
Mar 04, 2014
DELHI: Delhi Wakf Board will soon get 123 properties including many in prime localities such as Janpath, Babar Road, Mathura Road, Pandara Road, Ashoka Road and Parliament Street following a decision by the Union cabinet. The properties include mosques, dargahs and graveyards.
Aginsky Consulting keen to hook up Indian SMEs to US commercial realty
Mar 04, 2014
DELHI: Aginsky Consulting, a company focused on helping foreign investors to invest in US assets, has recently entered the Indian market.
Delhi: Puppeteers’ colony fights development plan
Mar 04, 2014
DELHI: Their day starts with resistance. From 10.30 in the morning, the puppeteers, folk musicians and entertainers of Kathputli Colony in West Delhi leave aside their daily chores and sit at the entry to their colony, all geared up to fight the government and a private builder who they allege are trying to “kill” their art and livelihood.
Tata Housing to invest Rs 1,200 cr in retirement homes
Mar 04, 2014
DELHI: Tata Housing today said it will invest Rs 1,200 crore over the next five years on developing 13 housing projects for senior citizens.
Which city has highest office rental?
Mar 03, 2014
DELHI: Office rentals may have seen a huge shakeup in the recent past. But New Delhi continues to rank among top 10 cities with highest rentals. On top of the heap is London.
Builders under scanner for over Rs 20-crore service tax evasion
Mar 02, 2014
DELHI: Two real estate firms in Noida have come under the scanner of central excise department officials for allegedly evading service tax of over Rs 20 crore.
Fliers to fill up new immigration form from tomorrow
Mar 01, 2014
DELHI: Passengers flying into India will have to fill up a new immigration form from tomorrow to declare Indian currency exceeding Rs 10,000 being brought by them, among others.
Future of real estate seems bright in Greater Noida
Mar 01, 2014
DELHI: Despite the fact that demand in the realty sector is slow to some extent the Greater Noida Industrial Development Authority (GNIDA) has recently announced a 10.21 per cent increase in the allotment price across all categories of land in the city. The new rates will be applicable from April 1, 2014 onwards. However, this is not the first time that such an increase has taken place. The GNIDA follows this practice almost every year. For instance last year too, the GNIDA had hiked the land ra
Greater Noida West brings opportunity for retail buyers
Mar 01, 2014
DELHI: Commercial property has always been considered a huge investment and preferably a deal made for corporate houses, MNCs, big and foreign investors. Retail players or small buyers always find it too expensive due to location, size and cost. They can hardly get a small office space so they prefer to rent a small office space to run their operations. But for the first time in the NCR, Greater Noida West is offering opportunity for retail and small buyers too. Multiple projects are offering no
Sahara chief moves apex court for cancellation of NBW against him
Feb 28, 2014
DELHI: Sahara Chief Subrata Roy today moved to Supreme Court seeking cancellation of non-bailable arrest warrant issued against him and undertook to appear before it on March 4.

Latest Realty News Of State

Realty Talk's