BusinessStatement by Nandu Belani, President, CREDAI Bengal on Unit...

Statement by Nandu Belani, President, CREDAI Bengal on Unit Area Assessment system

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“We have been in constant touch with the Kolkata Municipal Corporation (KMC) through the last few years to the current phase of implementation of the Unit Area Assessment (UAA) as CREDAI Bengal has been an ardent advocate for implementation of UAA. Currently we have pointed out that the multiplicative factors in certain cases like commercial properties, anchor shops, commercial parking spaces etc are extremely high and are causing undue hardships on the developer. In this regard we have already commissioned CBRE to help us understand the municipal property taxation system across India through which we are in the process of submitting a comparative analysis to KMC”.

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