Tag: Nashik Municipal Corporation

Latest StoriesRegulatory

Nashik Collects ₹196 Crore in Property Tax This Fiscal Year

NASHIK: The civic body has reported an 8% increase in property tax collections for the first eight months of the financial year 2025-26, totaling Rs 196 crore from April 1 to December 4, compared to Rs 181 crore during the same timeframe last year (2024-25). According to officials from the Nashik Municipal Corporation (NMC), the Cidco division led the collections with Rs 42.8 crore, followed by Panchavati at Rs 39.3 crore, Nashik East at Rs 33 crore, and Nashik West at Rs 30.7 crore. The remainder of the collections originated from Nashik Road and Satpur divisions. NMC set a property…

Latest StoriesRegulatory

Nashik issues notices to 300,000 property tax defaulters

NASHIK: The municipal authority has issued notices to over 300,000 property tax defaulters, providing a 15-day deadline to settle their tax obligations. These defaulters owe a total of ₹400 crore in property taxes, which have remained unpaid for periods ranging from one year to as long as six years. The Nashik Municipal Corporation (NMC) oversees approximately 600,000 property tax accounts across its six divisions. NMC officials indicated that the tax collection target for the current fiscal year is ₹275 crore, of which ₹125 crore has been collected so far, leaving about ₹150 crore to be collected in the next six…

InfrastructureLatest Stories

Nashik Civic Body Plans to Raise ₹1,000 Crore via ADB Loans

NASHIK: The civic body plans to secure Rs 1,000 crore in loans from the Asian Development Bank (ADB) for various infrastructure projects ahead of the upcoming Simhastha Kumbh Mela, set for 2026 to 2028. The Nashik Municipal Corporation (NMC) has submitted a proposal to the state urban development department for approval. A senior civic official informed TOI, “Upon receiving approval, we will begin the process to raise Rs 1,000 crore through a loan from ADB.” An official mentioned that the state government will back the loan repayment to ADB. This initiative is part of NMC’s strategy to fund its share…

Latest StoriesRegulatory

Nashik Launches Tax Rebate Scheme for Property Defaulters

NASHIK: The Nashik Municipal Corporation (NMC) has announced an amnesty scheme for property tax defaulters, starting Monday, September 1. This initiative aims to recover a substantial part of the total outstanding property tax, which is estimated to be Rs784 crore, including Rs327 crore in penalties accumulated over the years. The scheme offers a significant waiver on penalties for those who clear their dues. Defaulters who pay off all outstanding property tax between September 1 and October 31 will receive a 95% waiver on the penalties. For payments made in November, the penalty waiver will be reduced to 85%. The NMC…

Latest StoriesRegulatory

Nashik Exempts Telecom Firms from Realty Tax on Towers

Image for representation only. NASHIK: The Nashik Municipal Corporation (NMC) will exempt telecom companies from property tax on mobile towers starting January 2025. However, these companies must settle their outstanding dues by December 2024. This decision aligns with the guidelines issued by the state government’s urban development department. According to Section 14 (3) of the Telecommunication Act, 2023, telecommunication networks on any property will not be classified as part of that property, exempting them from property tax or duties. The central government recently expressed concern about local authorities not implementing this Act. In response, the state government’s urban development department…

Latest StoriesRegulatory

Nashik Civic Body Gathers 41% of Property Tax in Four Months

NASHIK: The Nashik Municipal Corporation (NMC) has achieved significant progress in its property tax collection for the fiscal year, gathering Rs 111 crore from April to July. This amount accounts for 41% of the target of Rs 275 crore set for the 2025-26 financial year. An NMC representative noted that the positive outcomes are attributed to a new rebate plan. This initiative features discounts ranging from 3% to 8% intended to encourage prompt payment. An 8% rebate was available for those who paid their entire annual property tax in April and May, while the percentage decreased to 6% for payments…

IndustryLatest Stories

Nashik: Mhada & NMC Simplify Land Transfers for Affordable Homes

NASHIK: The Nashik Municipal Corporation (NMC) and Maharashtra Housing and Area Development Authority (Mhada) have announced progress in addressing the transfer of Developmental Rights (TDR) to developers. This initiative is aimed at promoting affordable housing for lower-income groups and economically weaker sections (EWS). A meeting held on Tuesday evening between NMC and Mhada officials confirmed this development. Shivkumar Awalkanthe, Chief Officer of Nashik Mhada, stated, “The civic administration will provide TDR for the plots given to us, and we will reciprocate for NMC.” Officials from Mhada indicated that builders developing plots exceeding 4,000 sqm are required to allocate 20% of…

IndustryLatest Stories

TDR for Reserved Land Amenities in Nashik City

NASHIK: The Nashik Municipal Corporation (NMC) is set to permit landowners to develop amenities on reserved land in exchange for Transfer of Development Rights (TDR). This initiative aims to enhance the creation of public facilities while compensating property owners. Under this proposal, landowners who develop amenities on their reserved plots can receive TDR, contingent upon securing approval from the planning authority. This measure aligns with the Unified Development Control Promotions and Regulations (DCPR), a statewide policy enacted by the Maharashtra government in December 2020. To manage this process, the civic body’s general body has recently approved the establishment of a…

Latest StoriesRegulatory

Nashik Civic Body Gathers ₹100 Crore in Property Tax Q2

NASHIK: The Nashik Municipal Corporation (NMC) achieved a property tax collection of Rs 100 crore in the April-June quarter of the 2025-26 financial year, a slight decline from the Rs 106 crore collected in the same period last year. Officials credit the collection to rebates of 6-8% for early tax payments. NMC offers various rebates for timely property tax payments: an 8% discount for payments made in April-May, 6% for June, and 3% for July, with the incentive program ending on July 31. Additionally, a 1% concession is available for online payments. Last year, NMC informed taxpayers through messages about…

InfrastructureLatest Stories

Nashik to Establish Urban Design Cell for Better City Planning

Nashik’s New Urban Design Initiative NASHIK: In an effort to enhance the city’s infrastructure and environment, the municipal corporation has announced the establishment of a new urban design cell. This initiative aims to uphold Nashik’s aesthetic values while improving urban planning and design. The cell will focus on various urban development aspects, including mapping infrastructure, promoting walkability, and creating plans for better urban spaces. Climate action will be a key component of this initiative. The urban design cell will be led by Municipal Commissioner Manisha Khatri and will include notable members such as: The Deputy Director of Town Planning City…