Latest Realty News

NMC preparing new development plan for Nagpur
Sep 09, 2014
Nagpur Municipal Corporation (NMC) has begun preparing a new development plan (DP) for the city. It will replace the existing DP five years before it is due owing to large scale changes that have taken place
Most Nagpur buildings sans fire safety measures
Sep 09, 2014
It seems like a disaster is waiting to happen ? nearly 2,358 of the 2,790 buildings in Nagpur have no fire safety clearance
NMC property tax dept bifurcation in limbo
May 28, 2014
NAGPUR: The Nagpur Municipal Corporation (NMC) property tax department's bifurcation proposal is likely to be relegated to the back burner. The NMC union headed by BJP state president and South-West Nagpur MLA Devendra Fadnavis has opposed the proposal by leaders of BJP-led ruling alliance.
Be prepared to shell out more under property tax
May 10, 2014
NAGPUR: With municipal and general elections over, the BJP-led ruling alliance at the Nagpur Municipal Corporation (NMC) has resumed the process to implement the capital value-based property tax system. The property tax for residential properties will increase up to two times while it will be three times for commercial properties.
NMC fails to generate property tax bills
May 08, 2014
NAGPUR: Property taxpayers have been taken for a ride once again. The Nagpur Municipal Corporation (NMC) has failed to distribute the property tax bills by April end. The chances of distributing the bills by May end too is bleak. It will not only inconvenience property owners but will also deprive the cash-strapped civic body of much-needed revenue.
NMC to confiscate tax defaulters' properties
May 02, 2014
NASHIK: The Nashik Municipal Corporation (NMC) has decided to confiscate the properties of property tax defaulters and auction these after May 16.
Nagpur Municipal Corporation to auction properties seized for tax default
May 02, 2014
NAGPUR: The Nagpur Municipal Corporation has decided to now auction properties of the property tax defaulters to recover dues. The civic body will first publicly release names of major defaulters and then auction the properties if they still do not pay up.
Property tax collection up by 14% in Nashik
Apr 03, 2014
NASHIK: The property tax collected by the Nashik Municipal Corporation (NMC) has increased by 14.37% during the current financial year 2013-14 as compared to last year's figures.
Revenue through local body tax decreases by 13.5%
Mar 26, 2014
NASHIK: The revenue of the Nashik Municipal Corporation (NMC) through the local body tax (LBT) has declined by 13.46% to Rs 601.88 crore in the current fiscal year as compared to the revenue collected during the previous fiscal due to recession in industrial and real estate sectors and decline in the LBT rates of some of the commodities.
4 years later, Nagpur Municipal Corporation wants Rs 2.27crore property tax for Futala shops
Mar 11, 2014
NAGPUR: Like the rest of the city, Nagpur Municipal Corporation (NMC) officials were so busy enjoying the foodstuff at Futala promenade that they forgot to take property tax from sell ads, the outdoor publicity agency that rents out the shops.
SMS, e-mail reminders to pay property taxes
Mar 08, 2014
NASHIK: The Nashik Municipal Corporation (NMC) has decided to send reminders through SMS and emails to property holders pertaining to their outstanding tax dues from April 1.
Rented offices start getting 20 times higher property tax
Mar 04, 2014
NAGPUR: Commercial establishments operating from rented premises are in deep trouble. Nagpur Municipal Corporation (NMC) is levying 20 times higher property tax to many such properties. This is due to the flaws in the existing property tax system, and inordinate delay in implementing the capital-based property tax system. Adding to the troubles, the civic body is charging high property tax with retrospective effect.
NMC property tax dept hit by assessment scam
Jan 17, 2014
NAGPUR: After revenue collection scam, Nagpur Municipal Corporation (NMC) property tax department has been hit by an assessment scandal. Of total 26 units, the officials of NMC Dharampeth Zone assessed only three units 10 years ago, forgetting to assess the sprawling Naivedyam Hall and 22 shops in Nagpur Improvement Trust (NIT) complex at Ambazari. Now, the property tax of only the hall has been assessed at Rs 1.09 crore, with the process of assessing the remaining shops in progress.
Nagpur Municipal Corporation apathy continues to choke and kill trees
Nov 04, 2012
NAGPUR: Even after a year, the garden department of Nagpur Municipal Corporation (NMC) is yet to issue tenders for clearing the mouth of trees choked due to cementing and tiling. This apathy has resulted into the city losing many huge trees, an irreparable loss to the environment.
Nashik Municipal Corporation to seek Rs 200crore loan to ebb fiscal woes
Nov 04, 2012
NASHIK: Armed with the objective to finance various civic works and projects in the city, the Nashik Municipal Corporation (NMC) has decided to take a loan of Rs 200 crore. A proposal for this will be submitted to the state government for its approval within the next few days.

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