Rs 120 cr in tax dues from over 1,000 properties: NDMC
Feb 24, 2014
Source : The Economic Times

 

DELHI: Property tax worth Rs 120 crore is due from over 1,000 commercial and residential properties in north Delhi, the North Corporation has said while warning of measures to name and shame defaulters.

Chairman of the high-powered property tax committee of the North Delhi Municipal Corporation Rajesh Bhatia yesterday said that property tax of Rs 120 crore is due from about 1,094 commercial and residential properties for the last many years.

The chairman has warned the defaulters to pay their taxes on time else a strict action would be taken against them under the provisions of the DMC Act.

The action to be taken might also include publishing the names of the defaulters in newspaper, placing boards with their names in localities, beating of drums outside their homes, attachment of their accounts and auction of their properties, he said.

The Corporation from time to time, he said, has brought amnesty schemes with waiving of penalty and interest for facilitation of tax payers.

The last one was brought in November 2013 and many property tax payers availed the benefits of the scheme.

"But those property tax payers who did not pay their property tax even under the amnesty scheme will not be dealt with lightly now," he said.

Latest Realty News

DLF sales bookings up 46 per cent to Rs 3,760 crore in April-December
Feb 24, 2014
DELHI: Realty major DLF's sales bookings rose 46 per cent to Rs 3,760 crore during April-December period of this financial year despite a slowdown in the real estate market.
Buying a house? Mitigate risk with possession-linked plan
Feb 23, 2014
DELHI: With sales in the real estate sector slowing down, developers are coming up with a variety of attractive offers to persuade customers to buy. One innovation that the current slowdown has spawned is the possession linked payment (PLP) plan. Until recently, the most popular plan was the construction linked payment (CLP). Here, the payment to developer, either by the buyer or the bank from which the loan is taken, is linked to construction milestones.
Noida-based realtors demand for Environment Impact Assessment
Feb 22, 2014
DELHI: To meet the deadline of both residential and commercial projects and bring the prices down by at least 10 per cent, the Noida-based realtors have demanded for Environment Impact Assessment (EIA), a norm for provide auto environmental clearance to all types of real estate projects in India.
VBHC launches VAIBHAV Phase II in Delhi NCR
Feb 22, 2014
DELHI: Value and Budget Housing Corporation (VBHC), pioneers of affordable housing in India, have announced the launch of Phase II of their Project Vaibhav in NCR- Bhiwadi region. Vaibhav Phase II will have a total of 395,866 sq ft 2BHK apartments. The township is built in 5 towers of 2 basements& 10 floors each and the project is spread across 4 acres of land.
Realty companies with foreign investment may buy farm land in India
Feb 22, 2014
DELHI: The urban development ministry is pushing for retrospective application of a significant change proposed in the foreign direct investment (FDI) policy for construction sector, which will allow foreign investors to purchase farm land in India.
Gurgaon-Pataudi Road is set to emerge as a prime residential destination
Feb 21, 2014
DELHI: Once upon a time, Pataudi was the seat of a princely state, which was ruled by the nawabs of Pataudi. With the rising demand in housing today, Pataudi (Gurgaon-Pataudi Road) has turned into an urban cluster teeming with real estate development and industrial set-ups.
Rs 50,000 cr Tax-free Bonds to Boost Infra Investments
Feb 20, 2014
DELHI: India will need $1 trillion by 2020 for the infrastructure sector while projects worth over thousands of crore are yet to get off the ground for want of different clearances.
Real estate market looks up in Greater Gurgaon
Feb 20, 2014
DELHI: Located 24km from Gurgaon city, Greater Gurgaon, the newly-notified area in the new Master Plan, is the new marketing name for Sohna Road. Currently, Greater Gurgaon is registering a boom in the real estate market with supply keeping pace with demand; experts even say the area is all set to emerge as the next axis for residential, commercial, institutional, and industrial development in Gurgaon.
Ansal Buildwell to invest $100 million in Bahrain market
Feb 20, 2014
DELHI: Realty firm Ansal BuildwellBSE -2.95 % today announced a tie up with Bahrain-based VKL Holdings under which the two firms would invest $100 million each to develop housing and infrastructure projects in India and Bahrain.
Noida plans to slash circle rates
Feb 19, 2014
NOIDA: The department has decided to reduce circle rates, especially in group housing and commercial categories, as it has failed to achieve the annual target revenue. Senior department officials said they were not able to generate the revenue due to a steep hike in circle rates undertaken earlier.

Latest Realty News Of State

Realty Talk's