Pune’s Residential Properties to Get 40% Tax Discount Following State Government Approval
Pune, 29th July 2023: The Maharashtra state government has approved a proposal from the Pune municipal corporation (PMC) to reinstate a 40 percent discount on residential properties in the city. The discount, which had been withdrawn a few years ago, was eagerly demanded by citizens during the Kasba Vidhan Sabha by-elections.
Following the election, the issue was raised by elected representatives in the assembly, leading to the state government issuing an order to restore the 40 percent discount.
Several years ago, the municipal administration provided a 40 percent property tax exemption to residential properties in Pune. However, this benefit was later discontinued. Responding to public demands, various political parties echoed the need to reintroduce the discount during the by-elections.
Months ago, the legislative department of the municipal corporation submitted a proposal to the state government to enshrine the 40 percent discount into law. Now, with approval received in the assembly, the residential properties in Pune can once again avail the much-awaited 40 percent tax exemption.
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