Homes rented for commercial purposes under Nashik civic body’s scanner

August 7, 2023

NASHIK: Rental housing in Nashik is on Nashik Municipal Corporation’s (NMC) radar for not being registered with the property tax department for commercial use to avoid higher rates.

Owners are expected to inform the civic body of residential properties that are rented out, for which tax will be charged with commercial rates, which is leargely avoided causing major losses to the corporation.

Out of 5.2 lakh properties on record, around 50,000 properties are expected to be rented out. Moreover, some residential properties are also being used for commercial purposes without ‘change in use’. We will get an additional Rs15-20 crore in revenue if commercial rates are levied upon such properties, NMC officials said.

“Taking cognizance of this, we have decided to conduct surveys to detect these properties including additional construction conducted without permission in some of them,” said NMC officials.

“As per the norms, this survey is conducted every three years by the civic body. The previous survey was conducted during the financial year 2016-17, in which the civic body found around 4.5 lakh properties and around 50 lakh properties sans property tax,” said NMC officials, adding that they will soon submit a proposal for the same to the municipal commissioner, seeking his approval.

During the previous survey, the civic body had found around 1.27 lakh of total 4.5 lakh properties with additional construction beyond permissable limit.

  • Published On Aug 7, 2023 at 01:00 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Leave a Comment