Pune civic body starts assessment of metro properties
Real Estate

Pune civic body starts assessment of metro properties

The Pune Municipal Corporation (PMC) has commenced the process of collecting property taxes from the Metro railway authority. This move will involve levying taxes on 18 stations, two depots, and various other properties owned by the Maha Metro Rail Corporation. It is anticipated that the civic body will accrue approximately Rs 20 crore annually in taxes from the Metro authorities.

PMC officials have explained that the taxes will be calculated based on the annual rateable value of the properties in question. Ajit Deshmukh, the head of the PMC's property tax department, noted that property assessments are currently underway, and once the evaluation process is completed, the tax bills will be dispatched.

In recent months, revenue generated from tax collection has exceeded Rs 1,300 crore. The PMC faced a slight delay in tax bill distribution due to the announcement of the reintroduction of a 40% discount on self-occupied properties, which required the bills to be reprinted. The PMC's jurisdiction encompasses around 12 lakh properties, all of which are liable to pay property taxes. The civic administration incentivizes early tax payment by offering a special discount to taxpayers who settle their dues before May 31 each year.

This initiative to collect property taxes from the Metro railway authority reflects the PMC's ongoing efforts to ensure that all property owners contribute to the city's revenue, including major infrastructure entities like the Metro, thereby supporting the city's growth and development.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The Pune Municipal Corporation (PMC) has commenced the process of collecting property taxes from the Metro railway authority. This move will involve levying taxes on 18 stations, two depots, and various other properties owned by the Maha Metro Rail Corporation. It is anticipated that the civic body will accrue approximately Rs 20 crore annually in taxes from the Metro authorities. PMC officials have explained that the taxes will be calculated based on the annual rateable value of the properties in question. Ajit Deshmukh, the head of the PMC's property tax department, noted that property assessments are currently underway, and once the evaluation process is completed, the tax bills will be dispatched. In recent months, revenue generated from tax collection has exceeded Rs 1,300 crore. The PMC faced a slight delay in tax bill distribution due to the announcement of the reintroduction of a 40% discount on self-occupied properties, which required the bills to be reprinted. The PMC's jurisdiction encompasses around 12 lakh properties, all of which are liable to pay property taxes. The civic administration incentivizes early tax payment by offering a special discount to taxpayers who settle their dues before May 31 each year. This initiative to collect property taxes from the Metro railway authority reflects the PMC's ongoing efforts to ensure that all property owners contribute to the city's revenue, including major infrastructure entities like the Metro, thereby supporting the city's growth and development.

Next Story
Infrastructure Energy

Orb Energy Achieves Rs 3 Bn Milestone in Solar Financing Success

Orb Energy, a vertically integrated solar energy solutions provider, has achieved a significant milestone by surpassing Rs 3 billion in financing disbursements through its in-house finance facility that requires no collateral or down payment. This accomplishment underscores its dedication to supporting small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) in India in transitioning to cost-effective solar energy solutions. The company has installed approximately 350 MW of solar photovoltaic systems nationwide, with a strong foothold in southern and western India...

Next Story
Infrastructure Energy

90% Defaulters Yet to Settle Rs 3.17 Bn Power Dues in Noida

Out of a total of 1.31 lakh defaulters in Noida, only 13,500 consumers availed of the one-time settlement (OTS) scheme during its first phase. The Uttar Pradesh Power Corporation (UPPCL) launched the scheme in three phases, from December 15, 2024, to January 31, 2025. These consumers cleared dues amounting to Rs 300.40 million out of a total Rs 3.47 billion owed. Officials emphasized that stricter enforcement of the scheme would be implemented in the coming phases. During a recent weekend meeting with the technical team of the power department, the Noida zone's chief engineer instructed that..

Next Story
Infrastructure Energy

NER Invites Bids for 10 MW Rooftop Solar Projects in Uttar Pradesh

The Varanasi division (electrical) of Northeastern Railway has recently issued four tenders for a total of 10.4 MW on-grid rooftop solar systems to be installed at various buildings in Gorakhpur, Uttar Pradesh. The tenders include different project capacities, with submission deadlines set between January 31 and February 3, 2025. Bidders are required to submit earnest money deposits (EMDs) ranging from Rs 0.89 million to Rs 1.2 million depending on the tender, with the expected project costs varying between Rs 148 million and Rs 174.08 million. The selected contractors will be tasked with sup..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000