Chennai Corporation to review residential buildings undertaking commercial activities

Chennai Property at Makaan.com

In a move to augment the property tax collection, the Chennai Corporation is planning to conduct a drive to discern all commercial buildings in Chennai which are located in residential neighborhoods of Chennai, Tamil Nadu. The corporation officials will soon initiate a drive which will allow them to get comprehensive details of each building located on a particular street with structure classification, based on its use for commercial, residential or other purposes. Over the last few years several commercial activities have mushroomed in residential property at Chennai, which has led to tax evasion.

The drive will help the civic body to map the rise of commercial structures in residential areas of Chennai. In several residential places in Chennai like T. Nagar, Anna Nagar, Egmore, Purasawalkam, Mylapore, etc. commercial activities are been undertaken; but as they are based out of residential complexes they pay a much lower property tax to the Chennai Corporation. This initiative is expected to boost the property tax revenue, in addition to this the move will also help in streamlining the property tax assessment. According to an estimation, at present there are about 12 lakh property tax assesses in the city of which about four lakh buildings do not come under correct property tax net.

Alongwith this drive the Chennai Corporation is also planning to evaluate the trade license framework for properties in Chennai which have been seen a boom in commercial activity over a period of time. It is believed that identifying illegal commercial structures is expected to take about three months as there is a shortage of employees in the Corporation.

Makaan.com is a new-age Indian real estate website that was developed to bridge the gap between buyers and sellers of property in India. At Makaan.com you can search for the widest range of property options in residential and commercial property categories.