Pune: New Properties Helps PMC Earn Rs 195 Crores In Taxes This Year

Pune Flat Real estate Porwal Road
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Vivek Patil

Pune, 1 November 2021: The Pune municipal corporation (PMC) earned over Rs 195 crores in taxes from 36,000 properties that have been registered with the Property Tax Department. The administration is expected to break last year’s record this year.

Covid-19 had affected the development work resulting in the reduction in municipal revenue. However this year, Rs 846 crore was collected in the first three months. This income was higher than last year.

Although the municipal administration is focusing on the recovery of old properties, it is also working to recover the newly constructed properties by levying taxes. A team has been appointed by the Property Tax Department at the level of each ward office. The number of new property registrations has increased to 38,968 in 2019-20. In 2020-21, the highest number of 47 thousand 666 properties were registered, and through them, the income of Rs 215 crores 76 lakhs was received. Before 2019-20, an average of 25,000 properties was being registered. Crores of rupees were being lost due to the non-taxation of many buildings.

The city was hit by a second wave of corona in 2021-22, but the response from the government to stamp duty, reduced interest rates on home loans has led to a positive response from home buyers. From 1st April to 29th October, 36 thousand 866 new properties have been registered with the municipal corporation. This has added Rs 195.37 crore. Although many flats have been sold, they have not been registered with the municipality yet. As it will be recorded in the future, more new income will be recorded this year than last year.

“Last year 47 thousand 666 new properties were registered, this year till October, 36 thousand 866 properties have been registered. With five more months to go before the end of this financial year, record earnings will be recorded. Also, the number of newly sold flats is expected to increase in the near future”, said Vilas Kanade, Head, Property Tax Department.

Year – Property – Income (in Crores)

2012-13 : 32225 : 99.81

2013-14: 31525 : 97.93

2014-15: 23264 : 97.61

2015-16: 25528 : 119.30

2016-17: 28885 :137.58

2017-18: 27104 : 151.33

2018-19: 24255 : 130.28

2019-20: 38968 :185.06

2020-21: 47666 : 215.76

2021-22 (October): 36866 :195.37

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