Property News

Property News #7: Agra civic body, Property survey, Penna Cements share till October 5, 2020

Agra civic body issues notice to 63,000 house tax defaulters

Agra Municipal Corporation (AMC) has sent a notice to 63,000 defaulters and demanded them to pay their house tax within the given time period of two weeks. It has been also found that some of the property owners have not paid their house tax for 5 years. 

Furthermore, there are 100 municipal wards under AMC. On the other hand, the total number of properties in the jurisdiction is 3.50 lakh among which 1.80 lakh properties are registered under the civic body. 

Moreover, it has been found that only 48,000 people have paid their property tax so far. It has been also identified by the AMC that 63,000 property owners have not paid their property tax. Thus, to make a proper list of the defaulters, the AMC has intended to conduct a survey of both commercial and residential properties. This survey will also help the civic body to find out the properties that have been registered as a residential bus is being used for commercial purpose.

As the operations of the civic body were paused due to the pandemic for three months in terms of recovery of house tax. As a result, the officials are putting their maximum effort to recover the due amount and to improve the collection of house tax. Thus, the Municipal Board has set a target of RS.75 crore as the recovery amount as house tax. The AMC has also stated that firstly the defaulters will be warned and the will be charged legally in case of non-payment of their property tax.

13 years on, property survey to begin in Oct

After 13 long years, the Jaipur Municipal Corporation has decided to conduct a property survey in the month of October. Several difficulties were being faced by the authorities without anew or the latest survey report. This survey will help to make an assessment of the URBAN DEVELOPMENT TAX in Jaipur. The last survey was conducted in the year 2007. Lastly, it has been assumed that if the survey has been successfully conducted it will allow JMC to make more revenue each year. However, it has been expected that more than Rs. 400 crore of yearly revenue could be generated by the JMC with the help f the new survey report.

Telangana High Court stayed the attachment of Penna Cements share till October 5, 2020

The matter was referred to the debt recovery tribunal (DBT) and the court also ordered Mr. Pratap Reddy, the owner of Penna Cements not to sell or mortgage his shares till 5th Oct 2020. Previously, Reddy was directed by the DRT to furnish an amount of Rs 77 crore as security for the 1.36 crore Penna Cements shares that are owned by him. As a result, Reddy went to the High court to challenge the order given by the DRT. Meanwhile, he had taken Rs 3,000 cores from different banks for the Anrak aluminum project. 

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Bengali Property News#7।Advocate Chenoy Ceil|Agra Tax Defaulters।Jaipur Property Servey।Penna Cement

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