The Nashik Municipal Corporation (NMC) has appointed three private agencies for a three-year citywide property tax survey starting April 1. The agencies will identify unregistered properties, update tax records, and detect unauthorized commercial usage to ensure proper taxation. This initiative aims to increase revenue for civic infrastructure projects. Similar efforts in Chandigarh improved tax compliance, identifying over 1.19 lakh properties. NMC has also reinstated the industrial tax slab, reducing rates for nearly 1,000 businesses. Property owners are advised to verify compliance, as this survey strengthens Nashik's tax system for sustainable urban development.Read more

The Nashik Municipal Corporation (NMC) has reported a surge in digital property tax payments, with online transactions accounting for INR 118 crore out of INR 235 crore collected as of March 10, 2025. This marks a significant rise from pre-pandemic levels when online payments made up just 7% of total collections. The shift is driven by incentives like rebates and amnesty schemes for defaulters, which recovered INR 65 crore. NMC aims to collect INR 250 crore this year, leveraging digital adoption. The trend aligns with similar initiatives in Pune and Bangalore, enhancing efficiency, transparency, and taxpayer compliance in urban governance.Read more

Nashik's housing market grew by 22% in 2024, with 8,583 apartment sales, while new supply dropped by 30%, reducing unsold inventory by 15%. Despite strong demand, prices remained stable between INR 3,134-INR 15,833 per sq. ft., making Nashik an attractive alternative to Mumbai's high real estate costs. Improved infrastructure, industrial growth, and enhanced connectivity have boosted investment interest. The city's wine industry, tourism, and manufacturing sectors further drive demand for both residential and commercial spaces. With major developers expanding in the region and Nashik's strategic location near Mumbai, the city is emerging as a key real estate investment destination.Read more

The Nashik Municipal Corporation (NMC) has intensified efforts to recover pending property tax dues by issuing notices to defaulters. Over 2,000 notices have already been sent, urging recipients to clear outstanding payments within 15 days. Despite the NMC collecting INR 237 crore so far, it still falls short of its INR 250 crore target. Earlier, the civic body introduced an amnesty scheme offering up to 95% penalty waivers, which led to the recovery of INR 60 crore. However, with over 1.5 lakh defaulters still owing INR 250 crore, the administration is now escalating recovery measures, warning of stricter actions, including property confiscation, for non-payment.Read more

The Nashik Municipal Corporation (NMC) saw a 33% increase in property tax collection, reaching INR 234 crore by February, a record high. To meet its INR 250 crore goal, it needs INR 16 crore more. The rise is attributed to an 8% discount for early lump-sum payments, an extra 1% for online payments, and a successful amnesty scheme. NMC's push for digital transactions and actions against defaulters, like door-to-door collection, also contributed. With a steady revenue increase over recent years, NMC expects to exceed its target in March.Read more

The Nashik Municipal Corporation's (NMC) budget for 2025-26 features an outlay of INR 3,053.31 crore, marking an increase from previous years. Property tax hikes for new residential, commercial, and industrial properties, along with tripled development charges, are designed to boost revenue. A revised tax system for rental properties will reduce the financial burden on owners, while mandatory licence fees for shops and industries will bring in additional income. The NMC has significantly reduced its liabilities, allocated funds for transport services and ward development, and plans to establish nine clinics to enhance healthcare access.Read more

The Nashik Municipal Corporation (NMC) has reinstated the industrial slab for property tax, reducing rates from INR 44 to INR 13.2 per sq. mt per month for industrial units established or expanded after April 2018. This decision reverses a 2018 policy that imposed commercial tax rates, providing relief to around 1,000 industries. The move is expected to lower operational costs, attract investment, and boost employment, making Nashik more competitive with other industrial hubs. Additionally, NMC has approved infrastructure projects worth INR 15 crore. These measures collectively support Nashik's industrial growth and broader economic development.Read more

The Nashik Municipal Corporation (NMC) will raise development charges for builders and developers from INR 105 per sq. m to INR 350 per sq. m, effective April 1, 2025, marking the first hike in 15 years. Additionally, a 10% annual increase will be implemented moving forward. The decision aims to generate INR 1,500 crore to fund essential infrastructure projects and the upcoming Kumbh Mela 2026-27. While builders fear rising housing costs, the NMC assures that the funds will enhance the city's roads, water supply, and sanitation as Nashik undergoes rapid urban expansion.Read more

The Nashik Municipal Corporation (NMC) is addressing a backlog of 2,600 unresolved civic complaints, 1,000 pending building plan approvals, and property tax objections. Municipal Commissioner Manisha Khatri has directed officials to resolve grievances within a week, while a review of the e-Connect App aims to improve response times. Building plan approvals now require mandatory online submissions to enhance efficiency, with a first-come, first-served process. Property owners must file tax objections by February 28. NMC is exploring digital solutions to improve transparency, streamline processes, and meet the demands of Nashik's rapid urban expansion.Read more

Nashik Municipal Commissioner Manisha Khatri has introduced a streamlined approval process for construction projects, delegating sanctioning authority based on project size and risk category. Junior engineers will now approve low-risk residential projects, while larger developments up to 8,000 sq. meters will require approval from higher officials, with only projects over 12,000 sq. meters needing commissioner clearance. The reform aims to reduce delays and simplify procedures, addressing concerns from developers and residents. Khatri's administration is also exploring technology solutions to enhance transparency and communication, positioning Nashik for more efficient urban development and investment growth.Read more

Vidhi Sangoi

The Nashik Metro Neo, India's first rubber-tyred electric coach system, aims to transform urban mobility in Nashik by 2025. Designed for cities with populations up to 2 million, this energy-efficient and cost-effective transit system blends metro-like efficiency with bus rapid transit flexibility. Managed by Maha-Metro, it features two corridors-Corridor 1 (22.5 km, 19 stations) and Corridor 2 (10 km, 10 stations)-connecting industrial zones, residential areas, and key city landmarks. With an estimated cost of INR 2,100.6 crore and funding from the Government of India, Maharashtra, and international institutions like ADB, Metro Neo promises to reduce congestion, lower pollution, and set a benchmark for mid-sized cities nationwide.Read more

The Nashik Municipal Corporation (NMC) has transitioned to a fully online process for building plan submissions and approvals through the Building Plan Management System (BPMS), eliminating offline submissions. This shift, formalized by Municipal Commissioner Manisha Khatri, aims to enhance transparency, efficiency, and adherence to Maharashtra's Unified Development Control and Promotion Regulations (UDCPR). Replacing the earlier AutoDCR system, BPMS has resolved previous technical challenges faced by developers, ensuring seamless operations. The policy aligns with the state government's push for digital governance in urban planning, promoting accountability and streamlined processes for builders and developers in Nashik.Read more

The Maharashtra Housing and Area Development Authority (MHADA) has announced plans to reserve 555 flats in nine residential projects for the economically weaker section (EWS) in Nashik. These flats will be allocated through a lucky draw in the coming months. This move follows the state's 2013 mandate for builders to reserve 20% of flats in large residential projects for low-income groups. Additionally, MHADA is seeking clarification from the Nashik Municipal Corporation (NMC) regarding the EWS reservation rules for projects developed on "final plots," after developers raised concerns about compliance.Read more

Vidhi Sangoi

The Nashik Metro Neo introduces an innovative, affordable, and eco-friendly transit model specifically designed for mid-sized cities. Combining elements of a metro and a bus rapid transit system, it uses rubber-tyred electric coaches running on dedicated corridors, significantly reducing construction costs and complexity. Spanning over 32.5 km across two main corridors and multiple feeder routes, the system will seamlessly connect key residential, commercial, and industrial areas. With operations expected by 2025, Nashik Metro Neo aims to ease traffic congestion, lower pollution, and spur economic growth. This pioneering approach promises a more sustainable, accessible, and efficient urban transportation solution for Nashik's residents.Read more

The Nashik Municipal Corporation (NMC) recently reported a property tax collection of INR 200 crore, marking a 33% increase compared to the same period last year. This growth is attributed to the success of the amnesty scheme introduced in October 2024, which helped collect INR 55 crore. The NMC had set a target of INR 250 crore for the 2024-25 financial year and needs to collect an additional INR 50 crore within the next three months to meet this goal. With an outstanding tax due of INR 600 crore, including penalties, the NMC is focused on recouping funds through schemes and penalties.Read more

PNT Reporter

The Nashik Municipal Corporation (NMC) has extended its amnesty scheme, offering a 95% penalty concession on property tax dues for an additional month. This decision follows a positive response from defaulters over the last two months, during which NMC collected INR 57 crore from approximately 32,000 defaulters. For payments made in January, the penalty concession will be reduced to 85%. The civic body had earlier implemented a similar scheme in 2021, but it received limited success. This year, the NMC aims to achieve its property tax collection target of INR 250 crore, having already collected INR 185 crore so far.Read more

PNT Reporter

The Nashik Municipal Corporation (NMC) has raised INR 27 crore via its amnesty scheme during October and November, attracting around 30,000 property tax defaulters and waiving INR 13 crore in penalties. The total property tax arrears stand at approximately INR 450 crore, with INR 200 crore attributed to penalties. Under the scheme, defaulters can receive up to a 95% penalty waiver if they settle dues by November 30, with further reductions available in December and January. NMC officials expect to recover an additional INR 30 crore as the scheme continues, aiming for a total property tax collection target of INR 250 crore this financial year.Read more

PNT Reporter

The Nashik Municipal Corporation (NMC) reported that 60% of its property tax revenue, amounting to INR 140 crore so far in the ongoing financial year, was collected through online payments. This marks an increase from the previous year's 50%. The civic body introduced several tax rebates, including a 1% discount for online payments and additional incentives for early annual payments. These measures proved effective, enabling the NMC to collect INR 106 crore in the first quarter alone. With a target of INR 250 crore for the current financial year, NMC remains optimistic about meeting its goal.Read more