Urban development ministry to developers to pay adv tax for 3year.

Posted on : 20 Apr, 2012

 

Mumbai: The minister of state for urban development Bhaskar Jadhav said that, “developers will have to pay property tax in advance for three years at the time of issuing commencement certificate.” If developer fails to complete the construction work within the three years period, then again developer will have to pay tax for next three years.
On Monday Jadhav was replying to a calling attention motion in the legislative assembly. Whereas, opposition leader Eknath Khadse, who raised the issue, informed the House that the BMC had issued notices for payment of property tax to 3.22 lakh flat owners across the city.
Khadse added that, “the property tax dues are of the period before the registration of the flat in the name of the buyer, builder has to pay property tax and not the housing unit owner.”
Jadav further said that, at the time of issuing occupation certificate, authorities don’t have verify if builder have cleared the entire civic dues. After the few years, they issue notices to the residents demanding the payment along with interest.

 

 

                                                                                        SOURCE: Accommodation Times Bureau.


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