ARTICLES

BY erealto | 07-12-2018

Commercial property tax hikes in Chandigarh

Since the imposition of commercial property tax in UT of Chandigarh in June 2003, there is a hike in the property tax for the first time after 15 years of imposition. Now the commercial property owners will have to pay 10% more property tax than the tax levied earlier. This move has come after the UT administration has finally heeded to Municipal Corporation's request to enhance the commercial property tax. The commercial property tax is one of the most important sources of revenue for the MC. And with an increase in the tax, this will yield better revenue for the municipal corporation. The corporation in the last financial year had collected an amount of 30 crores from the tax. The enhanced commercial property tax has been made effective from 1st April 2018, beginning of the new financial year and notices have been sent to those who have not paid the hiked tax. The city has been divided into 4 zones for the purpose of collecting taxes. Property tax on commercial buildings ranges between Rs 3 and Rs 20 per square feet, depending upon zones. The notification, copy of which is with TOI says, "In exercise of the powers conferred by the Punjab Municipal Corporation Act 1976 as extended to the UT Chandigarh by the Punjab Municipal Corporation Law (Extension to Chandigarh Act), 1994, the administrator UT, Chandigarh in partial modification of notification dated June 3, 2003, is pleased to specify that tax on commercial, industrial and institutional lands and buildings falling within the municipal limits, levied by the Chandigarh MC under clause (a) of sub-section (1) of Section 90 of the Act with effect from 1.4.2018 shall be assessed and collected with enhancement of 10% in the existing rateable value per month of Chandigarh MC (tax on commercial, industrial and institutional lands and buildings) Bye-Laws, 2003".

READ MORE


BY erealto | 08-12-2018

GBP Centrum

GBP centrum is a whole new project which is an upcoming mall in Zirakpur. This project will be delivered by 2020. I have visited the main office and got the information about the project. And I found the project really excellent. So basically this upcoming mall is divided into two units separately designed for the commercial unit (right-hand side) and hotel unit on the otherside . As you guys can see in the picture there is a building divided into two towers as this is a new concept which is Dubai based. So this whole project is divided into two units which are constructed on 8.5 acres of land which contain 19 floors as this is the only project that has the highest height in Zirakpur. This project is maintained by JLL Company which makes this project reliable. Floorwise information Commercial unit (centrum 1) 1st and 2nd floor Showrooms 3rd and 4th floor Fully furnished office 5th floor Unfurnished office 6th to 8th floor Small business cabin 9th floor Showrooms of big size 10th floor Recreational area 11th floor Showrooms big size 12th to 19th floor Commercial space and open rooftop restaurants So this commercial unit is planned for office space only, with common showrooms on the 1st and 2nd floor as in another unit. If u require large space or you want to establish your whole business unit you don’t need to worry about it because GBP centrum is providing you the whole floor for your commercial purpose. You can take the whole floor for leasing purpose which is a new way to attract more investment. And also they are providing the open roof family restaurant and bar. So that you can enjoy the life at its greatest. The clubhouse will include swimming pool, restaurant two banquet halls which can hold 1000 people at a time. Hotel unit (right-hand side) This is basically the residential area where flats would be available and the floors would be like: 1st and 2nd floor Showrooms, fun zone on the 2nd floor 3rd and 4th floor 1BHK flats and rooftop restaurants 5th to 9th floor Studios 10th to 19th floor 4-star hotels Facilities • Big size showrooms • 12.5% return on investment • Clubhouse with banquet hall • 3 discs • Leasing of the whole floor for the commercial purpose • 4-star hotel services • Dubai based concept • 15 days free facilities to the owners • 9 lifts • Centralized AC • 2000+ car parking area with backside parking of 400 vehicles • Food court with open rooftop • Jewellery and diamond market • ATM services • Multiplex with 8 screen • Furnished and semi furnished cabins Iconic tower This is the distinct feature of the project which makes the project different from others. This building will be used to display the jewellery and diamonds with all luxury facilities. It would be 5 story building+ ground.This upcoming project is one of the best projects with high-quality facilities. Let’s see how this project would attract more investment.

READ MORE


About Us

erealto

With an aim of simplifying the complex property decisions, eRealto brings together home seekers, sellers, real estate professionals on a common platform. Our set of trusted agents advise everyone from a first-time buyer to the vet seller in making better and well-informed decisions.We present you a team of diverse, creative and astute professionals adept in the fields of real estate, business, engineering, marketing and design. Our mission is to be the top preference among our customers and partners, accompanying them in the journey of searching, buying, renting, selling a property. We do it with proper data, technology and the spirit of being passionate. At our portal, we not only assist you in finding you house but also happiness. We partner our customers from online search to brokers to home loans to documentation to finally finding a perfect place to live. We make sure that all this is carried out in as smooth way as it can.

For any queries and support

Write to us at
contactus@erealto.com


Existing Clients
support@erealto.com


Call Us
6262-6565-66


Connect With Us