Finance Home - Real Estate - Indian Realty News - Nagpur civic body to levy triple tax on buildings without OC

Nagpur civic body to levy triple tax on buildings without OC


30 March 2020 09:15

The Nagpur Municipal Corporation (NMC) has proposed a penalty of threefold property tax on residential structures lacking the Occupancy Certificate (OC). As the Nagpur Municipal Corporation (NMC) plans to levy threefold property tax on residential structures lacking the Occupancy Certificates (OCs), it may affect as many as 90 percent of the buildings in the city. Tukaram Mundhe, Commissioner, NMC, avers that the occupancy certificate is mandatory as per the building byelaws stated under the Maharashtra Regional and Town Planning (MRTP) Act, 1966. Therefore, all the building owners should obtain OC to avoid penalties. Nagpur has around 3,000 buildings that were served notices under the MRTP Act, but penalties were not levied until […].
Nagpur civic body to levy triple tax on buildings without OC. This article is published at 30 March 2020 09:15 from Indian Realty News Latest Real Estate Headlines, click on the read full article link below to see further details.


Read Full Article on Indian Realty News >>

Tags : Nagpur, civic, body, levy, triple, buildings, without





Don't Miss