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PMC to check 50,000 residential properties for commercial use

Pune civic administration has planned to screen about 50,000 of residential properties in the city, to analyse its commercial use. The move is expected to increase the property tax revenue by about Rs. 50 crores.

Additional commissioner of Pune Municipal Corporation (PMC) informed that the drive would commence from mid-November and is expected to continue till the year-end. Residential properties in the city would be checked by special teams which will be sent to every panel across the city.

 

Methodologies adopted

As per reports, there would be 76 teams, one for every panel. A team would comprise 2 members – a scrutiny officer and a security personnel. These officials will check for any commercial activity carried out in a residential property and also check if the property owner is paying the commercial tax. If no, they would be asked to pay the commercial tax and additional charges, thus helping the civic authority to increase their property tax revenue.

Fine would be charged upon property owners who have made additional construction in their property and are using the same to earn income, without paying tax.

A target of achieving property tax of about Rs. 750 crores by the end of first quarter of 2014, has been set by the civic authority. Out of this, about Rs.550 crores has already been collected.

Many residents in the city have open plots and areas that are utilized by them for commercial purposes. While the total number of such properties mount up to more than 7 lakhs, property taxes have been paid for only about 5 lakh of such properties as per an assessment by the PMC.

Components included in property tax

Property tax is one of the main sources of revenue for the Pune Municipal Corporation. The civic authority indulges in the process of billing and collection of property tax. Property taxes of commercial properties, plots and other types of properties that lie within the PMC limits, held privately or by the government (both state and central) are collected, in addition to residential properties.

In addition to basic housing/building tax, property tax also includes service taxes like conservancy/scavenging tax and street tax. It is collected either half-yearly or annually and a discount of 10% is provided to those who pay the same on or before May 31st.

Tags : commercial property in mumbai pmc properties in Mumbai properties in pune property for sale in pune real estate in Pune residential properties for commercial use residential properties in mumbai residential properties in Pune

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