A new real estate venture named Shilp Aura, put forward by M/s Arjunbhai Ramesbhai Patel, is in the planning phase in Rajkot as of October 11, 2025. It awaits clearance from municipal authorities, marking a potential boost to local housing and commercial spaces. This development could transform the area's skyline if approved.
Non-payment of property taxes for ten years can lead to severe penalties, legal action, and even foreclosure in India. It's crucial for property owners to understand the implications and address any arrears immediately.
Direct Taxes Code proposes changes to taxation of house property income, shifting from potential to actual or presumptive rent, calculated as 6% of rateable value or acquisition cost.