The Brihanmumbai Municipal Corporation (BMC) has taken a strict stance against 500 defaulters, including prominent developers, for non-payment of property taxes. The civic body has issued notices to attach their properties if the dues are not settled with
MumbaiProperty TaxesBmcDefaultersDevelopersReal Estate MumbaiJan 18, 2025
The BMC is targeting property tax defaulters to recover unpaid taxes, which are crucial for funding essential civic services and infrastructure projects. Non-payment of property taxes has been a significant financial strain on the corporation.
The BMC has targeted 500 defaulters, including several prominent developers, for non-payment of property taxes.
The BMC has issued notices to these defaulters, warning that their properties will be attached if the outstanding dues are not settled within 90 days.
According to BMC data, the 500 defaulters collectively owe over 100 billion rupees in property taxes.
The initiative is widely supported by citizens and experts, who believe it will help improve the city's financial health and ensure fairer distribution of civic services.
NAREDCO Maharashtra NextGen and Brigade Real Estate Accelerator Program (REAP) have formed a strategic alliance to support and nurture proptech startups in India with a dedicated Rs 200 crore fund.
Housing.com and PropTiger.com have announced the appointment of Amit Chand as their new Chief Financial Officer. This strategic move is set to drive financial growth and innovation in the rapidly evolving Indian real estate market.
Bengaluru's real estate market, traditionally buoyed by the IT industry, is now facing significant challenges due to the IT sector's slowdown and growing concerns over infrastructure and sustainability.
Mumbai's real estate market witnessed a robust 9.5% increase in property registrations in March, with a total of 15,482 units. This surge is attributed to strong housing demand and favorable market conditions.
The Indian stock market saw a significant downturn today, with the Sensex closing 729 points lower and the Nifty dipping below crucial levels. The markets were hit by a combination of weak global cues and domestic factors, leading to a sell-off in major s
India's stalled real estate projects have left around 500,000 housing units in limbo. NBCC's proposal to complete Supertech's projects could bring relief to 27,000 homebuyers.