Kotak Mahindra Bank: RLLR: 0.75 | From: 8.7% - To: 10.5%
Union Bank of India: RLLR: 0.5 | From: 8.5% - To: 10%
Bank of Baroda: RLLR: 0.5 | From: 9.25% - To: 11%
HDFC Bank: RLLR: 0.75 | From: 8.5% - To: 8.8%

Location : Nashik

Nashik Municipal Corporation secures INR 750 crore World Bank loan to upgrade sewerage network

The Nashik Municipal Corporation (NMC) has obtained a INR 750 crore loan from the World Bank to strengthen the city's sewerage infrastructure. The project will involve laying over 200 km of new sewer lines and replacing old ones across six municipal divisions, including Pachavati, Cidco, Nashik Road, and Satpur. Currently, the city manages around 323.3 million litres of sewage per day through 1,600 km of existing networks. The initiative also aligns with the AMRUT scheme, under which the government contributes 50% of the funding, while the remaining comes from the civic body.Read more

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Nashik Municipal Corporation issues notices to 3 lakh property tax defaulters

The Nashik Municipal Corporation (NMC) has sent notices to more than 3 lakh property tax defaulters, whose outstanding dues total around INR 400 crore. These dues have accumulated over one to six years. The civic body has a target of INR 275 crore for the current financial year and has already collected INR 125 crore. An amnesty scheme offering up to 95% waiver on penalties was introduced earlier this month. The NMC aims to meet its full collection target to fund its share in the Simhastha Kumbh Mela and ensure financial stability.Read more

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Nashik civic body plans ADB loan for Kumbh Mela infrastructure

The Nashik Municipal Corporation has proposed an ADB loan of INR 1,000 crore to strengthen the city's infrastructure ahead of the Simhastha Kumbh Mela. It builds on a broader INR 15,000 crore plan submitted to the state government, of which INR 3,270 crore has already been approved. The loan will be backed by the state and directed toward a complete sewage network, flood control, and stormwater drainage. The civic body also plans to raise INR 400 crore through municipal and green bonds. Earlier rounds of funding, motivations, and infrastructure pressures add deeper context to these preparations.Read more

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Nashik city waives property tax on mobile towers while moving to boost revenue through leasing

Nashik's civic administration recently lifted property tax from mobile towers with effect from the start of this year, while insisting telecom firms settle dues through December of last year. The move aligns with the Telecommunication Act, 2023, affirmed by state urban planning directives. The city hosts around 596 mobile towers, previously contributing an estimated INR 7 crore annually, yet telcos owe a staggering INR 52.69 crore in back taxes. Rather than dwelling on lost revenue, the municipal body is now leasing its own land to operators as a new income stream, carefully turning compliance into opportunity.Read more

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Nashik: NMC to bring 30,000 unrecorded buildings into tax net after land-use survey

A detailed audit conducted by Nagpur's town planning department has found nearly 30,000 structures missing from official municipal records. These buildings, though physically present and in use, had not been assessed for property tax, with many listed as vacant plots. The Nagpur Municipal Corporation (NMC) has now begun matching these structures with its GIS database. Once the ground verification is done, property owners will be issued assessment notices. This move is expected to bring a significant number of previously unlisted properties into the city's formal tax system and boost municipal revenue.Read more

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Nashik Municipal Corporation introduces TDR for developing reserved land amenities

The Nashik Municipal Corporation (NMC) has introduced a new initiative allowing landowners to develop amenities on reserved land in exchange for Transfer of Development Rights (TDR). This aims to accelerate public facility development and compensate property owners. Aligned with Maharashtra's Unified DCPR (December 2020), the policy enables NMC to develop 425 reserved lands, bypassing direct budget acquisition. A committee, chaired by the NMC commissioner, will oversee the process, streamlining urban development and benefiting both the public and landowners in Nashik.Read more

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Nashik Municipal Corporation collects INR 100 crore in property tax for Q1 FY26

The Nashik Municipal Corporation (NMC) collected INR 100 crore in property tax during the first quarter of FY26 (April-June), a slight decrease from INR 106 crore in the same period last year. This collection was aided by rebates ranging from 3% to 8% for prompt payments, ending July 31. Despite changes in strategy, including not sending messages and appointing private agencies for bill distribution this year, NMC reached the collection mark. The corporation aims for a higher annual target of INR 275 crore in FY26, following INR 256 crore collection in FY25.Read more

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Nashik sets up Urban Design Cell to guide sustainable city planning

One of Maharashtra's fastest-growing urban hubs, the Nashik Municipal Corporation (NMC) has launched an Urban Design Cell to bring structure, sustainability, and aesthetic sensibility to civic development. Spearheaded by Municipal Commissioner Manisha Khatri, the cell comprises experienced architects, town planners, engineers, and heritage conservationists. It is set to guide the city's planning through climate-conscious, pedestrian-friendly, and culturally sensitive design strategies. This development aligns with the Maharashtra government's broader mandate to institutionalize urban design cells across 421 local bodies for more coordinated and future-ready infrastructure growth.Read more

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Centre to upgrade nine roads to Nashik ahead of 2027 Kumbh Mela

Maharashtra CM Shri Devendra Fadnavis has announced a INR 4,000 crore road upgrade plan for Nashik ahead of the 2027 Simhastha Kumbh Mela, with central government support. Nine key routes connecting Nashik, along with the Nashik Ring Road and Nashik-Trimbak road (to be widened to six lanes), have received in-principle approval from Union Minister Shri Nitin Gadkari. A Detailed Project Report is underway. Roads such as Ghoti-Trimbakeshwar, Dwarka-Sinnar, and Nashik-Dhule will be developed to handle the massive influx of devotees. These upgrades aim to ensure safe and efficient movement during the world-renowned religious event, enhancing regional connectivity and infrastructure resilience.Read more

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Nashik civic body to auction properties of tax defaulters next month

The Nashik Municipal Corporation (NMC) is set to auction properties of 73 major property tax defaulters next month, targeting those who ignored earlier confiscation notices. Each defaulter owes over INR1 lakh, and the crackdown follows warnings sent to 425 such cases. The city faces over INR250 crore in unpaid property taxes from more than 1.5 lakh defaulters. Earlier this fiscal year, NMC ran an amnesty scheme offering up to 90% penalty rebates, which over 60,000 defaulters used, resulting in INR30 crore in waived penalties. Property tax is crucial for city services, and auctions are being used as a last-resort recovery method.Read more

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Nashik invests INR 20,000 crore for sustainable urban growth ahead of Simhastha Kumbh Mela

Nashik is in the midst of a large-scale infrastructure transformation worth over INR 20,000 crore as it prepares to host the Simhastha Kumbh Mela in 2027. The city is building nine new bridges, modern sewage treatment systems, flyovers, and industrial zones to handle the massive expected influx of pilgrims and to future-proof its urban development. Alongside this, Nashik Metro Neo and smart city projects are enhancing urban transport and service delivery. This comprehensive development plan is designed to improve connectivity, quality of life, and economic potential for decades to come.Read more

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Nashik development authority to utilize government land bank for integrated urban planning

The Nashik Metropolitan Regional Development Authority (NMRDA) has been entrusted with 13,645 hectares of government land across 190 villages in six talukas. This initiative aims to address the rapid urbanization in peri-urban and semi-urban areas, where local bodies often lack the resources for systematic development. NMRDA plans to create an integrated development plan, utilizing these lands for essential civic infrastructure such as sports grounds and water treatment plants. The authority is also in the process of formulating a land-use policy to ensure organized and community-centric development.Read more

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Nashik: NMSCDCL to continue projects beyond Smart City Mission, following guideline amendments

The Nashik Municipal Smart City Development Corporation Ltd (NMSCDCL) will continue executing projects beyond the Smart City Mission, which ended on March 31. The Directorial Board approved amendments enabling the corporation to undertake works outside Nashik and secure assignments from government bodies. NMSCDCL has initiated plans to deploy more than 3,500 CCTV cameras for the Simhastha Kumbh Mela, enhancing surveillance throughout the city. CEO Sumant More confirmed that surveys are underway to identify installation sites. Divisional Commissioner Praveen Gedam chaired the meeting, attended by key officials who endorsed expanding NMSCDCL's operational scope to ensure financial self-sufficiency and future growth.Read more

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MHADA's Nashik Board conducts the second 'Janata Darbar Din' to address public grievances

The Nashik Housing and Area Development Board, a regional unit of MHADA, held its second 'Janata Darbar Din' to resolve public grievances promptly. This initiative aims to provide a platform for citizens to voice concerns related to housing and development, ensuring timely and effective solutions. The event reflects MHADA's commitment to responsive governance and community engagement.

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Nashik civic body issues notices to 70 developers over neglected traffic islands

The Nashik Municipal Corporation has served notices to 70 private developers for failing to maintain traffic islands they had agreed to develop and keep under CSR or joint development conditions. These developers were allotted islands on major roads, but many were found neglected during recent inspections. The civic body has asked them to respond within seven days or face further penalties. This step is part of a broader effort to improve road aesthetics and traffic management in the city and hold stakeholders accountable.

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Nashik completes 18 of 21 Smart City projects; final handovers to NMC underway

Nashik Municipal Smart City Development Corporation Ltd (NMSCDCL) has completed 18 of its 21 projects under the Smart City Mission, with three still in progress. The state government has directed NMSCDCL to transfer completed projects to Nashik Municipal Corporation (NMC). NMSCDCL will complete two ongoing projects by April and finish the third by December. The initiative, valued at INR 1,122 crore, includes INR 175.74 crore under the PPP model. NMSCDCL has received INR 897.75 crore but awaits INR 48.51 crore from NMC. Upon completion, these projects will enhance Nashik's infrastructure, reinforcing sustainable urban development and transformation efforts.Read more

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Nashik Municipal Corporation introduces new property tax system for rental properties

Effective April 1, the Nashik Municipal Corporation (NMC) will levy a 30% additional tax on both residential and commercial rental properties, replacing the previous high surcharges. Earlier, Residential rental properties had to pay a surcharge of 100%, while commercial rental properties had to pay 400%. Property owners will need to provide tenant information to benefit from the new system. NMC has appointed private agencies to conduct surveys and ensure proper tax assessments.

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Nashik civic body receives over 1,200 building plan proposals offline in 10 days

Between March 17 and 26, the Nashik Municipal Corporation (NMC) received over 1,200 offline building plan proposals and approved around 200. This temporary shift to offline submissions was due to technical issues with the online approval system. NMC chief Manisha Khatri had previously mandated online submissions to streamline approvals and reduce delays. Developers' associations have requested the continuation of offline submissions, and Khatri plans to address their concerns in an upcoming workshop.

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Nashik civic body issues warrants to 426 property tax defaulters

The Nashik Municipal Corporation (NMC) has issued warrants to 426 property tax defaulters, each owing over INR 1 lakh, after multiple notices were ignored. The defaulters have been given a 21-day ultimatum to clear their dues or face property confiscation. NMC aims to recover outstanding taxes before the end of the financial year. Despite an amnesty scheme earlier, more than 1.5 lakh property tax defaulters remain, with a total of INR 250 crore in dues.

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