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When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
01 Apr 2025
Coimbatore has recorded a 14.42% increase in revenue from property registrations in the financial year 2024-25, reflecting strong real estate activity in the region. The surge is attributed to rising property transactions, government incentives, and improved infrastructure. The Coimbatore Municipal Corporation has also launched a Geographic Information System (GIS) mapping initiative for Open Space Reservation (OSR) lands to enhance urban planning and prevent land encroachments. Authorities believe that this step will help identify unutilised lands, streamline property-related documentation, and support infrastructure growth in the city. The move is expected to benefit both policymakers and citizens by improving access to accurate land records and urban planning data.
01 Apr 2025
The Lucknow Municipal Corporation has introduced a new service enabling residents to access their property tax details and payment links via WhatsApp. This initiative is part of the civic body's digital transformation efforts aimed at improving taxpayer convenience and boosting collections. Citizens can now receive tax notifications, check dues, and make payments through the messaging platform. Officials expect the move to increase compliance and reduce delays in tax payments. The user-friendly digital initiative aligns with broader smart city goals to modernise municipal services and enhance efficiency.
01 Apr 2025
The Mohali Municipal Corporation has exceeded its property tax collection target for the financial year 2024-25 by 10%, demonstrating improved taxpayer compliance and administrative efficiency. Officials attribute this achievement to enhanced digital payment options, awareness campaigns, and enforcement measures. The increased revenue will be utilised for infrastructure development and urban maintenance projects. Authorities are optimistic about maintaining this momentum in the coming years, with further efforts to simplify tax payments and incentivise timely compliance, thereby strengthening the city's financial position for future growth.
31 Mar 2025
The Property Tax Department of the Navi Mumbai Municipal Corporation (NMMC) has decided to auction seized properties with outstanding tax dues. Notices have been issued to 454 property owners across eight wards, urging them to clear their arrears immediately to avoid auction proceedings from April 2025. Under the Maharashtra Municipal Corporation Act, properties with unpaid taxes face seizure and subsequent auction. To facilitate the process, authorised government valuers are being appointed. Additionally, NMMC has introduced the 'Abhay Yojana', offering a 50% waiver on late payment charges until the end of March 2025, with tax payment centres remaining open on weekends.Read more
31 Mar 2025
The Adani Group has expressed interest in acquiring Jaiprakash Associates Ltd (JAL) by submitting an Expression of Interest (EOI) during its ongoing insolvency proceedings. JAL, the flagship firm of the Jaypee Group, operates in sectors including cement, power, hotels, construction, and real estate. As of February 20, 2025, the company reported outstanding loans totaling INR 55,493.43 crore. The National Company Law Tribunal (NCLT) has mandated that any resolution plans should consider acquiring JAL as a whole, rather than dividing its various business segments.
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31 Mar 2025
Approximately 3.49 lakh property owners in Bengaluru have defaulted on property tax payments, accumulating a total debt of INR 390 crore to the Bruhat Bengaluru Mahanagara Palike (BBMP). Of these, 1.73 lakh are chronic defaulters, having consistently failed to pay taxes over several years despite multiple notices and reminders. The highest number of defaulters are in Mahadevapura (81,481), followed by Bommanahalli (57,786) and RR Nagar zones (47,873). BBMP has collected INR 4,604 crore in property tax for the 2024-25 fiscal year, achieving approximately 88.36% of its target of INR 5,210 crore.
31 Mar 2025
The Uttar Pradesh government plans to raise Noida's circle rates by 20% in the upcoming fiscal year, marking the first adjustment since 2016. Circle rates, which are the minimum property values set for registration and stamp duty calculations, have remained unchanged for nine years despite significant property price increases in Noida and Greater Noida. The proposed hike aims to align official valuations with current market rates. Additionally, properties in Jewar are expected to see a 70% increase in circle rates, influenced by the anticipated opening of the Noida International Airport in May. The district administration has released a draft valuation list and is accepting feedback until April 5. If implemented, these adjustments will impact various property categories, including residential, group housing, industrial, IT/ITES, and commercial plots.
31 Mar 2025
The Ahmedabad Municipal Corporation (AMC) has sealed 1,850 properties in the city's western region due to property tax defaults, collecting INR 2.3 crore during the enforcement drive. Additionally, 3,928 notices were issued to residential property owners with outstanding dues, warning of potential disconnection of water and sewerage services for continued non-payment. In the southwest zone, 232 properties were sealed, and the solid waste management division issued notices to 299 establishments for public littering, sealing two units.
28 Mar 2025
The Ghaziabad Development Authority (GDA) has increased the Floor Area Ratio (FAR) to 80% for industrial plots up to 500 square meters, allowing businesses to expand vertically. Previously, the FAR was capped at 1.5 with 60% ground coverage, limiting operational space. The new policy aims to benefit SMEs by maximizing land use, reducing costs, and improving productivity. Similar initiatives in West Bengal and Telangana highlight the trend of optimizing industrial land. This move is expected to stimulate industrial growth, generate employment, and support economic development in Ghaziabad's industrial sector.
28 Mar 2025
Mahadevapura, Bengaluru's tech corridor, has generated INR 928.50 crore in property tax, leading all BBMP zones. However, it also has the highest default amount at INR 32.17 crore or 3.46% of the total demand. Vacant properties contribute to the largest outstanding balance, indicating underutilization. Other zones, such as East, South, and West, also face significant defaults, with a total of INR 156.43 crore uncollected across all zones. The BBMP is facing a INR 390 crore shortfall, with chronic defaulters continuing to evade payments despite multiple enforcement efforts.
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