Lucknow's 2025 circle rate revisions significantly increase property costs with 20-25% hikes for residential plots, 25% for non-agricultural land, and up to 50% increases in commercial sectors from August 1, impacting stamp duties and buyer strategies.
BBMP’s mandatory digital property certification is disrupting Bengaluru’s residential real estate, causing registration delays, tax payment complexities, and real estate market slowdowns despite its promise of transparency and efficiency.
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.
Pune Municipal Corporation extends credit notes for developers to pay various taxes and fees, boosting public-private partnerships for road and bridge development.
NKDA has initiated a special camp to assist property taxpayers in New Town, Kolkata, addressing challenges posed by the pandemic, especially for the elderly.
GHMC plans to implement a new penalty for illegal building owners, doubling property taxes to combat unauthorized constructions and aiming to raise significant revenue.
Delhi Municipal Corporation plans to increase property tax rates following the Delhi government's circle rate hike. Experts predict a potential 2:1 ratio of impact, implying a 100% property tax increase for a 200% circle rate rise. However, the tax revision might be less substantial in areas with smaller circle rate increases.