Pune Property

PMC Approves 2% Fine For Property Tax Defaulters

(TOI, Oct 26, 2010)
PUNE: The general body (GB) of the Pune Municipal Corporation (PMC) on Monday approved the state government’s notification to impose a 2 per cent penalty on property tax defaulters.
On May 31, 2010, the state government had issued a notification authorising the civic body to impose the fine every month if property tax was not paid in a given period of time.
Property tax for the first six months of the year has to be paid before September 30. Those who fail to do so will now have to pay a 2 per cent penalty on the tax amount every month till the tax is paid. The second instalment of the property tax has to be paid before December 31 every year.
In the last two years, the PMC has brought nearly 80,000 properties under its tax net. However, an estimated 45,000 properties still remain out of its reach. The standing committee has repeatedly told the administration to make an effort to widen its tax net. Once the unassessed properties are covered, the civic body is expected to get an additional revenue of Rs 100 crore to 150 crore.

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Anil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in West Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings. Woodsville in Moshi is another highly successful PCMC-based township by Pharande Spaces which is now in its 3rd phase.

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