Haryana Chief Minister Manohar Lal Khattar has announced to extend the deadline for property tax in cities. Now the deadline of 31 December 2022 has been extended by one month to 31 January 2023.
Apart from this, another announcement has been made. If the property tax is deposited by December 31, then the interest portion will be waived 100 percent. If it is deposited by January 31, then 50 percent of the interest will be waived.
Preparation to regularize illegal colony
Khattar said this after discussing the attention motion presented in the House on the second day of the three-day winter session of the Vidhansabha. He said that the government is also looking for a way to regularize the colonies developed illegally outside the city limits and for this the rules are being amended.
Estimated tax collection of 924 crores
Urban Local Bodies Minister Kamal Gupta said that after the government decided to create a new property ID (Pehchan) in the interest of the citizens, an increase of more than 33 per cent has been registered in the number of properties in the state. In the first six clusters, the total number of properties that come under the ambit of house tax were 32 lakh 6 thousand 839. The total tax assessment for this was 541 crores. At present, the tax assessment for the survey property has increased to Rs 924 crore.
The growth of real estate is happening rapidly. It is believed that this growth will continue next year. hBits founder Shiv Parekh said that the growth of commercial real estate in 2022 was good. Growth in this segment is expected to continue in 2023 as well. With the help of REITs i.e. Real Estate Investment Trust, now retail investors have also started coming in this sector.
In 2022, there was a spurt in demand for commercial space from IT, software, BFSI firms, due to which improvement in commercial real estate has been registered. Apart from this, big companies of the world now want to establish themselves in India. Due to this, the demand is expected to remain. After the work from home is over, people are moving from the village to the city.
