Tag: Patna

Latest StoriesResidential

Patna Civic Body Launches Property Tax Drive for All Flats

PATNA: The Patna Municipal Corporation (PMC) announced a citywide initiative on Tuesday to incorporate all flats in multi-storey buildings into the property tax system. Apartment secretaries and management committees have been requested to supply detailed information about each flat to enable a precise tax assessment. Officials emphasized that this initiative seeks to identify properties either not included in the tax net or underreporting their tax obligations. This effort is expected to enhance revenue collection and to establish a comprehensive database of residential properties in the city. The PMC has devised an action plan across all circles. As part of this…

Latest StoriesRegulatory

TDS Violations Found in Patna Real Estate by Tax Department

Representative AI image PATNA: The Income Tax (I-T) department has uncovered alleged tax discrepancies during a two-day survey of two real estate firms in Patna. Initial findings suggest a tax discrepancy of approximately ₹40-50 lakh, mainly due to non-compliance with Tax Deducted at Source (TDS) rules. I-T officials stated that the survey centered on an under-construction project at Saguna Mor, revealing various lapses in TDS compliance. The firms reportedly failed to deduct TDS on payments for services, goods, immovable property transactions, contractual work, development agreements, and salaries, as mandated under the Income Tax Act. The I-T department has begun reviewing…

Latest StoriesRegulatory

Patna’s Property Tax Collection Jumps 13.9% From April to July

PATNA: The Patna Municipal Corporation (PMC) reported a collection of ₹51.76 crore in property tax from April 1 to July 22 this year, marking a 13.9% increase from ₹45.43 crore collected during the same period last year, officials announced on Thursday. The increase is attributed to ongoing public outreach and awareness campaigns designed to promote timely payments. Officials noted that PMC has been actively contacting property owners daily via telephone and other platforms to remind them of tax deadlines. Between July 1 and July 22, PMC collected ₹3.61 crore from 9,634 property owners, compared to ₹2.89 crore from 9,431 property…

Latest StoriesRera

Bihar RERA Simplifies Project Registration for Easier Business

PATNA: The Real Estate Regulatory Authority (RERA) of Bihar has made the registration process for real estate projects more straightforward to enhance the ease of doing business, while still ensuring thorough document scrutiny before approvals are granted. With the updated system, applicant promoters will receive guidance through each step of the filing process via a new filter-based approach. The portal now features a checklist of necessary documents right at the start and includes built-in validation checks to identify discrepancies, minimizing errors and rejections. Furthermore, RERA has simplified the documentation requirements. Promoters are now only required to submit the Jamabandi, a…

Latest StoriesRegulatory

Patna civic body collects ₹48 crore property tax in Q1 FY27

PATNA: A surge in property tax payments on June 30 allowed the Patna Municipal Corporation (PMC) to achieve a remarkable single-day collection of over Rs 3 crore. This date marked the last opportunity to receive a 5% rebate on property tax payments. On that Tuesday, 3,927 taxpayers made their payments, prompting the PMC to extend its service hours, keeping all collection counters open until midnight to accommodate the influx of residents. The strict cutoff for the discount resulted in PMC collecting nearly Rs 48 crore in property tax during the April-June quarter of the current financial year. Recent reports indicate…

Latest StoriesRegulatory

Patna Civic Body Sees Tax Surge After ARV Revision

PATNA: The Patna Municipal Corporation (PMC) has increased the Annual Rental Value (ARV) for properties by 15%—the first adjustment in nearly 30 years. This change, effective from June 24, 2026, aims to enhance civic revenues to improve infrastructure, including roads, drainage, sanitation, and street lighting. Additionally, PMC is offering a 5% discount for lump-sum property tax payments made by June 30 for the fiscal year 2026–27. Average daily receipts have surged from approximately ₹50 lakh to nearly ₹70 lakh. On Thursday alone, the civic body collected over ₹68 lakh from 1,480 properties by 3:33 PM—a significant increase following the implementation…

InfrastructureLatest Stories

Bihar CM to Develop Groundwater Policy

Representative AI image PATNA: Chief Minister Samrat Choudhary on Monday urged officials to quickly formulate a groundwater policy to ensure the conservation, effective management, and sustainable use of groundwater resources in Bihar. During a review meeting of the minor water resources department at Sankalp Sabhagar in Lok Sevak Awas, the CM highlighted the necessity of a robust institutional framework that coordinates efforts across relevant departments. He pointed out the increasing demand for water and upcoming challenges, instructing officials to accelerate efforts on the Bihar Groundwater Management and Regulation Act, 2026. This legislation aims to regulate groundwater extraction, prevent overuse, and…

Latest StoriesResidential

41 Lakh Homes Built for Poor: Bihar IPRD Minister

PATNA: Shrawan Kumar, the Rural Development and IPRD Minister, announced that Bihar has constructed 4.156 million pucca houses for the impoverished over the past decade, starting from the 2016-17 fiscal year. During this period, administrative approval was granted for a total of 4,909,806 housing units, with over 85% of construction successfully completed. The minister detailed that the former Indira Awas Yojana was revamped in the 2016-17 financial year to provide durable housing with essential amenities to impoverished families in rural areas, many of whom lived in makeshift and crumbling homes or were entirely homeless. This program was rebranded as the…

Latest StoriesRera

Bihar Housing Minister: Speed Up RERA Cases, Ensure Transparency

PATNA: Emphasizing the need for timely resolution of homebuyers’ complaints and enhanced transparency in the real estate sector, Bihar’s Urban Development and Housing Minister, Nitish Mishra, instructed officials to expedite the clearing of pending cases before the Bihar Real Estate Regulatory Authority (RERA) during a high-level review meeting. This meeting saw participation from RERA Chairman Vivek Kumar Singh, Principal Secretary Vinay Kumar, Inquiry Commissioner Sanjay Kumar Singh, Joint Secretary Manoj Kumar, and other senior officials. Mishra underlined that safeguarding homebuyers’ interests and ensuring accountability are integral to RERA’s mission, insisting that all complaints should be addressed within a specific timeframe,…

Latest StoriesResidential

Bihar Hikes Circle Rates, Making Land and Flat Purchases Costlier

PATNA: The cost of buying land and homes in Bihar has risen following the state government’s announcement on Thursday to increase registration fees for properties in both rural and urban areas. The updated minimum value register (MVR), or circle rates, shows a 60% hike in rural land rates and a doubling of urban rates. The prohibition, excise, and registration department released a notification on Thursday, with the revised rates taking immediate effect. Furthermore, the government has instituted an automatic yearly increment of 5% in MVR rates. The previous revision for MVR rates was conducted in 2013 for rural regions and…