Kanpur in recent years has shown a massive potential to become a powerhouse in the real estate sector with property investments reaching an all-time high. With gated community apartments, small plots, and luxury villas leading the charts. The increase in the demand for Villas in Kanpur is almost equal to that in big cities if taken on average.
Significant Features of The Lifestyle In A Villa
Freedom at its very best – The major reason why luxury villas in Kanpur are being sought after the most is because of the freedom it offers. It offers an independent lifestyle with no hindrance from anybody at any time. There is no association and no prior approvals as such, just a world of dreams within four walls with you at the helm of it.
The purest form of privacy – Luxury villas in Kanpur offer you a space of your own where you can do anything you desire. Nobody is keeping an eye on you as compared to community living and for that reason, there are no noisy neighbors to interrupt your life.
Connectivity – Kanpur is well connected to the capital and many leading cities of India such as Mumbai, Kolkata, Surat, etc. by road and rail. The new Yamuna Expressway has added new dimensions to it.
Industrial Hub – Kanpur is known as a city of industries, from leather to textiles, it is one of the leading cities to produce finished goods. This act is a major factor contributing to the growth of the real estate sector in Kanpur.
Educational Institutes – Kanpur is home to some of the most prestigious colleges and universities such as IIT, UIET, and Agricultural College with many more in the pipeline. This growing immigration needs accommodation, which adds to the property development in Kanpur.
Retail Sector – The Government Textile Institute and the National Sugar Industry act as a pioneer in the development of the retail sector. New malls and commercial and residential spaces are being built at a rapid pace adding to Kanpur’s real estate market.
Pay Two Separate Tax Bills in One Tax Bill
At present, the house owners pay two separate bills for house tax and water tax. The current house tax is charged at 15% of the annual letting value of their house while the water tax and sewer tax is charged at 12.5% and 4% of the annual letting value of the house. Two bills for respective taxes are sent by Kanpur Municipal Corporation (KMC) for house tax and the Jalkal Department for water tax.
The government has already asked the two departments to collect all the data and chalk out a plan to implement this tax merger. Now as per the new proposed joint tax, it also remains the same at 31.5 % of the annual letting value of the house. So, the taxes remain the same as what you were paying, it’s just that you get saved from the hassle of paying two separate bills.