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The MMRDA recently finalised revised rates for such premiums ranging from 20% to 100%, amounting to lakhs or crores of rupees per property, based on the extent of the violation to be regularised.
Mumbai: Suburbanites told to pay non-agricultural tax since 2006 ByClara LewisClara Lewis / Updated: Feb 12, 2021, 09:44 IST (This story was first published in Times of India on February 12, 2021) MUMBAI: Last week, Shivshrushti Layout in Chembur received a bill of Rs 1.2 lakh for non-agricultural (NA) tax. All residents of Mumbai’s suburbs can expect similar bills in the coming days. The cash-strapped state government, that has not collected NA tax for the last 15 years, has now begun issuing bills for private and government lands in Mumbai suburbs. 1 The implementation of the NA tax had...
Representative image MUMBAI: Last week, Shivshrushti Layout in Chembur received a bill of Rs 1.2 lakh for non-agricultural (NA) tax. All residents of Mumbai’s suburbs can expect similar bills in the coming days. The cash-strapped state government, that has not collected NA tax for the last 15 years, has now begun issuing bills for private and government lands in Mumbai suburbs. NA tax is a British era tax applicable on land that has been diverted from agriculture for other purposes. It is applicable in Mumbai suburbs, but not in the island city as the latter has large tracts of leased lan...
Delhi government cuts circle rates of properties by 20 per cent SECTIONS Share Synopsis The circle rates related to residential, commercial and industrial properties in Delhi have been reduced by flat 20 per cent across all categories of colonies and areas till September 30, 2021, a city government official said. Boost for real estate: Delhi govt cuts property circle rates by 20% for six months NEW DELHI: The Delhi government on Friday reduced the circle rate by 20% across property categories for the next six months, a move that real estate experts said would spur demand at a time when the se...
Proposal to cut real estate premiums by 50% cleared Updated: Updated: Developers will have to pay stamp duty on behalf of homebuyers Share Article Developers will have to pay stamp duty on behalf of homebuyers The Maharashtra Cabinet on Wednesday cleared a proposal to cut real estate premiums by 50% till December 31, 2021, for all ongoing and new projects. Countering Leader of Opposition Devendra Fadnavis’s allegation that the move would benefit select developers, the Cabinet said builders will have to pay premiums based on the Ready Reckoner rates of 2019 and 2020, whichever is higher. T...