Pimpri, February 3, 2021: Property tax on old residential and non-residential properties have been hiked by Pimpri-Chinchwad Municipal Corporation (PCMC). The new changes in property tax will be applicable from April 1, 2021.
Municipal commissioner Shravan Hardikar has used his discretion to hike the property tax. The administration does not need the general body meeting or standing committee permission though the decision will be placed before them as there is a big difference between the per square feet rates and subsequent property tax calculated on old and new properties.
According to the decision taken by the municipal commissioner, properties which have been purchased before 2005, will see the hike up to Rs 800 to 1200 for residential properties and Rs 1500 to 3000 for non-residential properties for 500 sq ft area. It ultimately puts an impact on 2.5 lakh property holders in the city.
For properties purchased between 2006 to 2020, which are considered as new, the rate is Rs 17.18 to Rs 29.94 per square feet. The rate will go up to Rs 31.44, according to a new tax plan. The official claimed that the hike in property rates of old residential properties are nominal.