Property tax in Nagpur.

Q: Is there any time limit for the tax payer to pay the tax? What if the tax payer is not paying the tax in time?

Ramesk Polekar, Mumbai

13th December 2011

Property Tax in Nagpur

property tax

stamp duty and registration charges

stamp duty and registration charges 2016-17

stamp duty hike in nagpur

property tax hike in nagpur

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Hi Hitesh and Meghna!!!
I think the decision to hike stamp duty is very important for Nagpur Metro Rail Corporation Limited (NMRCL) as it will get half the revenue generated by levy of the 1% surcharge. The remaining 50% will go to Nagpur Municipal Corporation (NMC) or Nagpur Improvement Trust (NIT) depending on whose land the property lies.

And secondly, this revenue will help NMRCL in repaying the 500 million Euro loan it has taken from German government agency KfW and the under consideration 130 million Euro loan from Agence Francaise de Developpement (AFD), a French institution.

Dharmaja Patel, Mumbai

5th July 2016

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Hi friends!!
Have you heard the latest updates on property tax in Maharashtra? Stamp duty hiked by 1% in Nagpur Metro Rail corridor by the urban development department.

Hitesh Thawani, Mumbai

5th July 2016

Comment

Yes, the Urban Development Department has finally declared yesterday the proposal to increase stamp duty by 1% in Metro Rail corridor. The corridor is the area lying within 500 metres on both sides of the Metro track. The duty will now be 7.5% instead of 6.5%. The 1% registration charge (maximum Rs.30000) will remain unchanged. The stamp duty in the city except the area under Metro corridor will remain at 6.5%.

Meghna Ananth, Mumbai

5th July 2016

The Nagpur Municipal Corporation has made a new property tax norms that the tax payer have to pay the tax within a period of three months from the date of bill issued. If the tax payer fails to pay the tax on time then the NMC will charge 2 percent interest as per the changes made by the government.

Jerome Fernandez, Mumbai

13th December 2011

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