Categories
Business in India Legal Article Real Estate Help

Property News #28: Property tax settlement, Layout regularization scheme, Supertech Basera buyers protest

Property tax settlement scheme nets Hyderabad civic body increased revenue

During the Covid-19 pandemic, several ways of producing an immediate income have been developed by Greater Hyderabad Municipal Corporation (GHMC). GHMC was able to generate Rs 248 crores in two months (August 1 to October 31) under the one-time amnesty regime which provides discounts for property tax arrears. The framework cleaned up a total of 1, 10,442 real estate tax backlogs.

The town council extended the deadline to 15 November to further fill its coffers. This year (up to October), the municipal body raised further property taxes about Rs 198.04 despite Covid 19. The property tax collected in 2019-20, was collected on Rs 938.70 Crores (to October), and this year (2020-21) was collected from 9, 23,988 property owners at Rs 1,136.74 Crores.

Under the programme, landholders who have interest-bearing property tax payments only have to pay 10 percent of their accrued interest along with their interest principal by 2019-2020. According to a GHMC record, Rs 2,495.62 Crore property tax-deferred (including interest) must be paid by 5.64 lakh property owners. In its release, GHMC said that this is the final extension of the one-time scheme.

Also aiming to boost its revenues has been chalked by the Metropolitan Water supply and Sewerage Board (HMWS&SB). At the request of HM WS&SB, from November 1 to November 15, the Department of the Municipal Management and Urban Development (MA&UD) expanded its One-Time Settlement (OTS) to raise water charges from consumers. 

From August 1 to October 31, the water board obtained Rs 241.02 in the OTS.

Telangana: 25 lakh property owners apply for a layout regularization scheme

Although the regulatory regimen of land plots in unauthorized designs with more than 25 lakh applications throughout the State was overwhelming, many plot owners of the municipalities and city corporations across the city where illegal layouts have mushroomed did not regularize their properties in compliance with the Layout Regulatory Scheme (LRS). 

LRS was declared on 1 September and ended on 31 October by Municipal Administration and Urban Planning (MA&UD). The State also stopped tracking sections of illegal configurations and buildings with no local authorities’ permission. When the government stalled all registrations, from day one the system was daunting.

Although many applications were received from the GHMC-controlled plot owners with 1,06 Lakhs, the Grand Hyderabad Warangal Municipal Corporation has submitted a further 1,01 lakh application. 

Interestingly, hundreds of illegal layouts in the vicinity of the town falling under the Hyderabad Metropolitan Development Authority (HMDA) were inapplicable to regularize their plots in unapproved arrangements.

Near Rs 100 crore has been received by the state government towards the initial registration fee. Moreover, they might receive more than Rs 10,000-15,000croreas penal fee. 

Gurugram: Six years on, no flats yet, Supertech Basera buyers protest

The homebuyers at the Sector 79 housing project- Supertech Basera, protested at the construction site because their apartments had not been delivered yet. They booked six years earlier. 

The buyers claim only two of the 15 towers of the project are about to be concluded, while the rest are not even complete by 60 percent. Buyers told Supertech and the Town and Country Planning Division (DTCP) that repeated reports were notarized.

Launched in 2014, the developer was effective to receive the environmental clearance two years later, with a deadline of 2018. The project was finalized by January 2020. The deadline was reviewed. Although the project has more than 1,900 units, the purchasers have said that only 200 are ready. 

However, Supertech has confirmed that construction is underway and that allocators of two towers are soon to be offered before Diwali. In another six months, the remaining towers will be finished.

For more details, check out https://youtu.be/dEgk6Z_CdbY, you can also reach out to me here or email – chenoyceil@gmail.com.

Bengali Property News#28। Property Tax। Regularation Scheme। Supertech Basera

Ask any Query...

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.