Property records to be revised: Deadline Jan 15

In a move to whip up the revenue collection process and get adequate information about the built-up area of apartments and buildings in the city, the government has issued a deadline for property records to be revised. In regard to the move, the government has suggested the BBMP to revise and upgrade the records by the end of Jan 15.

The Bangalore City Corporation has displayed how the area-based system can prove efficient and produce revenue under capital valuation. According to property consultants, this is a significant move on the part of the government, since the gap between revenue expenditure and receipts has deteriorated the fiscal position.

Absence of PID

According to the government’s notification, the BBMP needs to identify and take action against properties where the built-up area is not declared and which lack the Property Identification Numbers (PID). As per market sources, nearly 8000 properties in the South zone lacks PID numbers. In addition to this, nearly 50000 properties in the South zone call for revision.

In few cases, the owners of some commercial buildings have not declared the actual built-up area. Furthermore, the government has suggested the BBMP to take the help of engineering college students to quickly wrap-up the task of revising property records. For better results, the work can be outsourced to private agencies also.

Revenue collection

According to the civic body officials, around 16.19 lakh properties in the city require immediate revision. All such properties will fall under the tax net. With such revision the BBMP can accumulate a revenue of Rs 3000 crore as property tax. This will act as a boon for the state government.

PID will help the government make significant contribution towards its revenue collection. It will also promote transparency in administration. A GIS (Geographical Indication System) will be used to identify properties that lack PID .