Pune: PMC Auctions 53 Properties To Recover Tax Arrears, Only One Successfully Sold
Pune, 18th February 2024: The Pune Municipal Corporation (PMC) conducted an auction on Wednesday (14th February) for 53 properties to recover property tax arrears. However, the administration revealed that only one property was successfully sold, fetching Rs 18.50 lakhs.
The property in question had a due tax amounting to Rs 18 lakh, and it was sold for Rs 17 lakh 83 thousand. The winning bid was placed at a rate of Rs one lakh higher than the selling price, resulting in the recovery of the due tax for this particular property.
Before this auction, PMC had auctioned 32 properties, with 24 property owners making payments to settle their dues. In the recent auction of 53 properties, seven to eight property owners paid their taxes by afternoon.
Four individuals participated in this auction and only one buyer bid for a property in Kharadi. The bid exceeded the market value by one lakh rupees, enabling PMC to recover the due tax. The remaining amount will be returned to the respective property owner.
PMC plans to auction about 202 properties in the city as part of their ongoing efforts to recover property tax arrears. While challenges persist in selling the properties, the successful recovery of dues in this instance marks a positive step for the municipal corporation.
