Q: What will be property tax for me if I sell my flat in Bhosari, Pune area, 24 years old resale flat for Rs. 20,00,000. I purchased this flat in 2002 for Rs. 3,80,000/- (resale flat with area 685 sq. feet).
Proprty tax is collected by the municipality and the calculation is very complex. But for a property of Rs. 20 lacs the tax will be in the range of Rs 2500/- per annum.