News By/Courtesy: Aashi Nema | 05 Jan 2019 12:34pm IST

HIGHLIGHTS

  • A commercial establishment was auctioned by the Ahmedabad Municipal Corporation on Wednesday. The auction was conducted for the first time in history because of non-payment of tax.
  • he property is situated at Lal Darwaza and a company called Link India is run in the building and the recovery amount is around Rs 2,000 crore in property tax.
  • After the auction on 3rd January, four more properties will be auctioned by the corporation for the default of payment.

A commercial establishment was auctioned by the Ahmedabad Municipal Corporation on Wednesday. The auction was conducted for the first time in history because of non-payment of tax. The property is situated at Lal Darwaza and a company called Link India is run in the building. The recovery amount by the corporation from defaulters is around Rs 2,000 crore in property tax. The owner of the Lal Darwaza property had to pay Rs 22.23 lakh in property tax. Although the auction was planned by the corporation, but no one turned up at the auction, so the AMC decided to use the property for its own use. 

The corporation has also identified another 190 properties that will be auctioned soon. Arjav Shah, Deputy Municipal Commissioner, property tax and finance, said that they are examining the legal angle for each of these properties and then they will fix the base price before giving advertisements for auction. According to Municipal Commissioner Vijay Nehra, the corporation has decided to auction the properties of defaulters for the first time in the history of the corporation. He said that the legal procedures have been followed up by the corporation. The Link India property will be auctioned at the base price of Rs 24.50 lakh. He further added that the corporation has never auctioned the properties but it only used to seal the properties of defaulters. After the auction on 3rd January, four more properties will be auctioned by the corporation for the default of payment. 

Section Editor: Shreyashi Tiwari | 05 Jan 2019 12:37pm IST


Tags : #Tax #Default #Property #Tax #Auctioned

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