亚博体育官网首页

Chandigarh civic body sends notices to properties over tax default
Real Estate

Chandigarh civic body sends notices to properties over tax default

The Chandigarh municipal corporation issued the first lot of notice to the 40 commercial properties of the city, which failed to pay their property tax to the authority in the April to June rebate period.

Out of around 40,000 commercial properties, only around 14,000 properties have paid the tax amount to the authority during this rebate period, as the rebate period ended on 30th June this year.

Since the Chandigarh civic body started to send the notices, they have thought that initially notices will be sent to the commercial properties, but soon residential properties list will also be prepared to send notices to the defaulter residents also, who failed to pay the tax during the rebate period.

A senior official told the media that all these 40 notices, which have been sent in the first lot, carry a financial cost of around rupees 10 lakh. Since these properties have failed to pay the tax, now they will have to pay a penalty as well as interest over it with their principal amount, as strict action will be taken against those who will fail to pay it.

During the rebate period, the Chandigarh Municipal Corporation had received Rs 36.06 crore property tax, and the maximum of it was from commercial properties only. Though most taxpayers came from the residential part, more tax paid came from commercial properties, which can be due to high charges of commercial properties against residential properties.

The Chandigarh municipal corporation issued the first lot of notice to the 40 commercial properties of the city, which failed to pay their property tax to the authority in the April to June rebate period. Out of around 40,000 commercial properties, only around 14,000 properties have paid the tax amount to the authority during this rebate period, as the rebate period ended on 30th June this year. Since the Chandigarh civic body started to send the notices, they have thought that initially notices will be sent to the commercial properties, but soon residential properties list will also be prepared to send notices to the defaulter residents also, who failed to pay the tax during the rebate period. A senior official told the media that all these 40 notices, which have been sent in the first lot, carry a financial cost of around rupees 10 lakh. Since these properties have failed to pay the tax, now they will have to pay a penalty as well as interest over it with their principal amount, as strict action will be taken against those who will fail to pay it. During the rebate period, the Chandigarh Municipal Corporation had received Rs 36.06 crore property tax, and the maximum of it was from commercial properties only. Though most taxpayers came from the residential part, more tax paid came from commercial properties, which can be due to high charges of commercial properties against residential properties. Image Source

Next Story
Infrastructure Urban

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..

Next Story
Infrastructure Urban

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Next Story
Infrastructure Urban

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement