Big building tax exemption for small plots in Nagpur
03-Jan-2017 :
Nagpur Municipal Corporation (NMC) has proposed to exempt buildings/ houses on plots upto 200 sq mts from 10% big building tax.
It is presently payable on buildings on plots over 150 sq mts with Annual letting value of more than Rs 1500.
It is proposed to tax @3% on plot size of 201- 300 sq mts and @5% on plot size 301- 500 sq mts and @10% on plots above 500 sq mts.