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New Interventions Will Change The Way Immovable Properties Were Sold, Purchased In Jammu And Kashmir

New Interventions Will Change The Way Immovable Properties Were Sold, Purchased In Jammu And Kashmir
Yawar Hussain
SRINAGAR: New interventions will change the way the real estate sector would work in Jammu and Kashmir. Since the 2020 fall, the government has issued a series of orders that change the traditional processes and systems.
Property Order 1
A recent order issued by the Housing and Urban Development Department has mandated the concerned Municipal Corporations, Councils or Committees to levy property tax on the properties in Jammu and Kashmir.
“In exercise of the powers conferred by the Jammu and Kashmir Property Tax Board Act, 2013, the Jammu and Kashmir Municipal Act, 2000 and the Municipal Corporation Act 2000, the government hereby direct that for the levy of property tax on any land or building as notified in terms of Jammu and Kashmir Preparation and Revision of Market Value Guideline Rules 2011 (circle rate),” the order reads. ....

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Not Acceptable: Jammu Chamber Raises Voice Against Property Tax

Not Acceptable: Jammu Chamber Raises Voice Against Property Tax
People can’t even pay children’s fees, how will they pay property tax, asks chamber chief
PTI photo
outlookindia.com
2021-02-19T15:54:20+05:30
Also read
The Chamber of Commerce and Industries Jammu today said property tax is not acceptable and it would oppose it tooth and nail.
Addressing a news conference in Jammu, president, Chamber of Commerce and Industries, Jammu, Arun Gupta, said since August 5, 2019, Jammu has remained closed off and on and people are not in any position to pay taxes.
He said Jammu remained closed during the lockdown also. “The government should know how people are surviving and running their businesses,” he said. He said the government should review the property tax. “We are opposing it strongly and we will go to any extent to oppose it,” Gupta said. ....

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Govt begins exercise for imposition of Property Tax through ULBs

Govt begins exercise for imposition of Property Tax through ULBs
Govt begins exercise for imposition of Property Tax through ULBs
Step to help in availing Rs 503 cr addl borrowings from GoI
Mohinder Verma
JAMMU, Feb 15: In a move which may not be welcomed by the people but has become compulsion to get additional borrowings from the Centre, the Government of Union Territory of Jammu and Kashmir has started an exercise for the imposition of Property Tax through Urban Local Bodies (Municipal Corporations, Municipal Councils and Municipal Committees).
Moreover, Property Tax Board will be constituted shortly on the recommendations of the Housing and Urban Development Department to deal with all the aspects relating to assessment and valuation of properties across the Union Territory. ....

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