Nashik property owners to receive a 5% rebate if facilities are built
03 Apr 2023
2 Min Read
CW Team
Owners of approximately 5.22 lakh homes would receive a 5% reduction in their annual property tax if they install any of the five features in their properties beginning with the current fiscal year.
Rainwater harvesting, EV charging stations, wastewater recycling, solar water heaters, and solar power panels are among the five facilities.
The Nashik Municipal Corporation has issued a circular in this regard, granting the annual property tax relief.
If all of these amenities are installed, the rebate will stay same. If any residential society implements any of these steps, each flat owner will receive a 5% rebate.
Officials from NMC's property tax department stated that these measures were issued with the municipal commissioner's approval to promote water conservation and the usage of renewable energy.
In the case of planned projects in the city, the civic authority has made it essential for builders to install an EV charging station as well as a minimum of 25 units rainwater collecting systems in properties measuring 500 square meters.
NMC commissioner Chandrakant Pulkundwar stated that this is part of the city's efforts to promote the usage of rainwater harvesting, electric vehicles, and solar electricity.
According to the official, the water tax reduction has been doubled from 1% to 2% for individuals who pay property and water taxes online beginning April 1. With the increase in rebate, NMC expects to collect at least Rs 100 crore in property tax in the April-June quarter of 2023-2024.
See also:
Rebate of 2% stamp duty in multi-storey projects to extend till March 31, 2023
AMC reduces property tax rebate from 75% to 50% for GIDCs
Owners of approximately 5.22 lakh homes would receive a 5% reduction in their annual property tax if they install any of the five features in their properties beginning with the current fiscal year.
Rainwater harvesting, EV charging stations, wastewater recycling, solar water heaters, and solar power panels are among the five facilities.
The Nashik Municipal Corporation has issued a circular in this regard, granting the annual property tax relief.
If all of these amenities are installed, the rebate will stay same. If any residential society implements any of these steps, each flat owner will receive a 5% rebate.
Officials from NMC's property tax department stated that these measures were issued with the municipal commissioner's approval to promote water conservation and the usage of renewable energy.
In the case of planned projects in the city, the civic authority has made it essential for builders to install an EV charging station as well as a minimum of 25 units rainwater collecting systems in properties measuring 500 square meters.
NMC commissioner Chandrakant Pulkundwar stated that this is part of the city's efforts to promote the usage of rainwater harvesting, electric vehicles, and solar electricity.
According to the official, the water tax reduction has been doubled from 1% to 2% for individuals who pay property and water taxes online beginning April 1. With the increase in rebate, NMC expects to collect at least Rs 100 crore in property tax in the April-June quarter of 2023-2024.
See also: Rebate of 2% stamp duty in multi-storey projects to extend till March 31, 2023AMC reduces property tax rebate from 75% to 50% for GIDCs
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