Despite being granted 66% property tax rebate to Palava City developed by Lodha Group, located on Kalyan-Shil road, the gated community’s residents are levied 100% property tax by the Kalyan Dombivli Municipal Corporation (KDMC). These residents have given the KDMC 15 days to solve issues regarding property tax after which they will protest.
Under Maharashtra’s Unified Development Control and Promotion Regulations (Unified DCR), a special township project has to be completed within 10 years or the period allowed or the time period as allowed by the government, once master plan is approved and is also responsible for maintaining infrastructure in that area till the completion of integrated township project.
As per the Unified DCR, under the Maharashtra Municipal Corporation Act or gram panchayat, integrated townships that fall under these categories will get a rebate of 66% on the property tax.
| Got any questions or point of view on our article? We would love to hear from you.Write to our Editor-in-Chief Jhumur Ghosh at [email protected] |
Housing News Desk is the news desk of leading online real estate portal, Housing.com. Housing News Desk focuses on a variety of topics such as real estate laws, taxes, current news, property trends, home loans, rentals, décor, green homes, home improvement, etc. The main objective of the news desk, is to cover the real estate sector from the perspective of providing information that is useful to the end-user.
Facebook: https://www.facebook.com/housing.com/
Twitter: https://twitter.com/Housing
Email: [email protected]
Related Posts
Budget 2017: Realty welcomes reduction in long-term capital gains tenure.
New municipal council with 27 KDMC villages to be formed soon: Maharashtra CM.
GST on real estate maintains status quo.
Lower GST rates may benefit the industry more than buyers.
GST law may be amended to allow refund after flat purchase cancellation.
West Bengal extends stamp duty, circle rate rebate till Sep 2023.
