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Noida Property Tax

Noida Property Tax means the Service tax paid on the properties in Noida. It is paid by the owner of the property. According to the rules any Real Estate ie Buildings, Flats, Apartments, Offices, Houses and any other constructed building are liable to the property tax payment. Where as any vacant area of land does not come under the provision of paying the tax. The property tax is the main source of income for any local Municipal Corporation. It is completely responsible for collecting property tax in the state.

Noida also known as New Okhla Industrial Development Area was administered on April 17 1976. It comes under Delhi National Capital Region. It is located in Uttar Pradesh state in Gautam Budh Nagar District. Noida is among the fastest growing and developing cities of India. Many Multinationals, BPO’s, and IT companies have given new position to the city. The leading construction of Residential and Commercial Properties, Increasing Prices and demand are the latest trends in the Real Estate market of Noida. Service tax is not charged currently on Noida’s Properties. But the government of Uttar Pradesh is planning to implement it in the coming years. Today property owner in Noida don’t pay any property tax.

But according to Income tax department of India, Property is regarded as a source of income for Property Owner, Builders, Companies, Agents, Brokers, Consultants and many other engaged in any kind of property affairs. Anything that acts as an income source is liable to tax. It is assumed that property holders in Noida will soon have to bear property tax.

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Last Updated On: 2012/02/29

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