Pune's Property Tax Rebate Scheme Fails to attract interest
Real Estate

Pune's Property Tax Rebate Scheme Fails to attract interest

Pune's civic body recently introduced a property tax rebate scheme aimed at incentivising timely tax payments and easing the financial burden on property owners. However, the scheme has failed to gain significant traction among residents and property owners in the city.
The scheme, which offered discounts on property tax payments for early birds and those paying dues in a lump sum, was expected to be a win-win for both the municipal authorities and taxpayers. It was designed to boost revenue collection and encourage prompt payments, thus strengthening the city's financial position.
Despite these intentions, the scheme has found few takers. Reports suggest that the response has been lukewarm, with only a small percentage of property owners opting for the rebate. Experts speculate that various factors, including economic uncertainties and financial constraints, may be contributing to the lack of enthusiasm among taxpayers.
The Pune Municipal Corporation is now reevaluating the scheme's effectiveness and considering potential revisions to make it more attractive to property owners. It remains to be seen whether adjustments to the scheme will lead to increased participation and greater success in achieving its intended goals.

Pune's civic body recently introduced a property tax rebate scheme aimed at incentivising timely tax payments and easing the financial burden on property owners. However, the scheme has failed to gain significant traction among residents and property owners in the city.The scheme, which offered discounts on property tax payments for early birds and those paying dues in a lump sum, was expected to be a win-win for both the municipal authorities and taxpayers. It was designed to boost revenue collection and encourage prompt payments, thus strengthening the city's financial position.Despite these intentions, the scheme has found few takers. Reports suggest that the response has been lukewarm, with only a small percentage of property owners opting for the rebate. Experts speculate that various factors, including economic uncertainties and financial constraints, may be contributing to the lack of enthusiasm among taxpayers.The Pune Municipal Corporation is now reevaluating the scheme's effectiveness and considering potential revisions to make it more attractive to property owners. It remains to be seen whether adjustments to the scheme will lead to increased participation and greater success in achieving its intended goals.

Next Story
Infrastructure Urban

Afcons shares gain momentum with Bhopal Metro Line 2 project

Afcons Infrastructure made a quiet debut on the stock market on Monday but quickly gained momentum after emerging as the lowest bidder for the Bhopal metro project line 2 package.The Bhopal Metro Phase 1 project’s 12.915 km Blue Line (Line-2) will link Bhadbhada Chauraha and Ratnagiri Tiraha, spanning 13 elevated stations. This package, issued by the Madhya Pradesh Metro Rail Corporation (MPMRCL), involves constructing all 13 stations of the Blue Line’s viaduct. The depot will also be shared with the Orange Line (Karond Circle to AIIMS) for maintenance and stabling purposes.Afcons’ exten..

Next Story
Infrastructure Transport

Locals urge CM to opt for road bypass over flyover at Dandeavaddo

Chinchinim villagers respectfully requested Pramod Sawant, Chief Minister, to instruct the Public Works Department (PWD) and the National Highway authorities to construct a road bypass instead of a flyover on the Dandeavaddo stretch of NH66. The villagers, led by Sarpanch Frank Viegas and Velim MLA Cruz Silva, also raised the long-standing issue of building the Chinchinim Panchayat Ghar and a multi-purpose project on panchayat land that was acquired more than 15 years ago. The delegation met the Chief Minister at the St. Sebastian Chapel junction in Chinchinim as he was returning home from a..

Next Story
Infrastructure Transport

MLA Yashpal Suvarna Announces Malpe-Udupi Highway Construction from Nov 6

MLA Yashpal Suvarna instructed officials to commence work on the Malpe-Udupi Highway on Wednesday. A meeting took place, attended by MP Kota Shrinivas Poojary, Udupi MLA Yashpal Suvarna, and Kaup MLA Suresh Shetty Gurme, to discuss the National Highway 169A project, which spans from Malpe to Udupi, covering areas like Hiriyadka, Parkala, and Perdur. The project had experienced delays due to incomplete land acquisition, but compensation notices have now been issued to the landowners. Of the 214 land acquisition files, 19 pertain to government land, while 195 involve private owners. Notices ha..

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