Property News #17: Bengaluru civic body, Can’t go beyond relief already announced, Punjab and Haryana HC

Bengaluru civic body moots 15-30% increase in property tax In an effort to raise revenue for a cash-strapped civic body, the Bruhat Bengaluru Mahanagara Palike (BBMPs) plans a 15 to 30% increase in property tax for both residential and non‐residential units. The Karnataka Municipal Corporation Act of 1976 stipulates that BBMP is to review property […]

Property News #10: Bengaluru civic body, one-time settlement in Ghaziabad, Rajasthan housing board

Bengaluru civic body eyes Rs 557-crore assets with lapsed leases to fill coffers The cash-strapped BBMP needs to use its properties, whose leases expired. In its kitty with 116 such properties worth Rs 557 crore, Palike searches two choices: renew their rent at the current market rate, or take over and finally sell them off. […]