Building plan sanction charges to be review in Nagpur

Samrat,

28th January 2015

Real estate News in Nagpur

building plans

nagpur improvement trust

nagpur municipal corporation

building sanction plan

nit

stamp duty hike in nagpur

property tax hike in nagpur

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Replies (8)

Hi Everybody!!!
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

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Right Hitesh........the Urban Development Department has finally cleared the proposal yesterday 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

NIT has quoted reason behind applying the revised charges as the state government's instruction to make use of revenue collected from the charges for acquiring of reservation lands and development. In its instruction dated September 21, 2013, the government had asked all civic bodies to take building charges and use the amount in improvement of city's development plan. But the government had not instructed to revise the charges.

Himani,

29th January 2015

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But NMC is yet to apply the revised charges. Even, NMC general body has not taken up the proposal for discussion in the meeting as charges will increase to a great extent in the new system. Still, NIT is in a hurry to implement it.

Abhijit Thanki, Mumbai

29th January 2015

Comment

Similarly, development charges applicable for open plots and for sanction of layouts will be revised in the new system. Premium charges being recovered for utilizing balconies, staircases etc. will increase significantly. Currently, premium charges are on Rs per sq-mt basis. NIT will charge 60% of ready guess value for residential properties while 75% for industrial properties and 100% for commercial properties.

Himani,

28th January 2015

Comment

Well Himani,
Now, the total amount of building plan sanction charges is much higher than basic charges as several other types of charges are linked with the basic charges. Thus, charges of around Rs 2 to Rs. 2.50 lakh will have to be paid instead of existing Rs50000 for a plot of 172 sq-mt in revised system.

Abhijit Thanki, Mumbai

28th January 2015

Comment

You are right Abhijit,
Currently, NIT is charging Rs 60/sq-mt for sanctioning building plan of a residential property while Rs 90/ sq-mt for industrial property and Rs 120 for commercial property. In the new system, NIT will charge 2% of plot's sale deed value for residential property, 3% for industrial property and 4% for commercial property.

Himani,

28th January 2015

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In doing so, the NIT administration is all set to dump two resolutions passed by the board of trustees. If implemented, the owners of plots situated in regularized and unauthorized Gunthewari layouts, metro region and NIT improvement schemes will have to pay heavily to get sanction for building plans.

Abhijit Thanki, Mumbai

28th January 2015

Comment

Hi,
Nagpur Improvement Trust is generally known to extend sops to builders and hoteliers but is always anxious to add to the burden of the common man. An example of this attitude was seen again with the NIT administration deciding to revise development and building plan sanction charges up to 4 to 5 times from the existing amount though the trustees had red-flagged such a proposal.

Abhijit Thanki, Mumbai

28th January 2015

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