2026 - Page 25 of 74 - NoBroker Times

The Nagpur Municipal Corporation has announced that there will be no new taxes or increase in existing taxes on the standing committee’s budget presented on June 27. However, the property tax department has introduced a proposal for a 10% property tax hike on the agenda for the committees’ first meeting, to be held on July 10. Sources say that, according to the proposal, the hike is expected to generate an additional 15.42 crore in revenue for the NMC. The property tax department has submitted a proposal as part of the annual revision in tax rates. The proposal seeks an increase in the sewerage benefit tax from 1% to 2% and the fire tax from 1% to 2%. Overall, the property tax department estimated that the revisions will result in an average 10% increase in property tax collections. However, there are no proposed changes to the state education cess, employment guarantee cess, or large residential building tax. Further, the revision is being pushed under Section 99 of the Maharashtra Municipal Corporation Act, which allows the civic body to set annual tax rates. These rates are normally approved in February. Due to the overall budget delay, officials noted that any approved hikes will be recovered by adding the revised amount to the next property tax bills. Thereby, the Standing Committee Chairperson Shivani Dani, who previously said that there would be no tax burdens, must decide whether to approve or reject this proposal during the July 10 meeting. Sourced from The Live Nagpur

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NoBroker Times

Despite Budget Assurances, House Tax Is Likely To Rise By 10% In Nagpur

BMC Standing Committee Approved Policy to Regularize Non-OC Buildings

Haryana RERA Rules Neo Developers’ Unit Cancellation Invalid, Directs Immediate Possession

Mumbai Cooperative Housing Society’s Stamp Duty Reduced to 0.5%

TN Makes Online Registration Mandatory For New Property Sales From Aug 17

Bescom: Gruha Jyothi Benefits to Continue Interruption-Free During Reverification

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