Pune Municipal Corporation (PMC) will levy property tax based on the facilities and cost of the property in a particular area. Thus, as against the previous method of using ready reckoner rates (RR) or age of the property, PMC will not calculate property tax based on the value of the property.
With the present system of using RR rates, standalone buildings and luxurious flats with amenities in a particular area pay similar property tax. To be started on a pilot basis, the first phase will have 80,000 houses in the city whose property tax will be calculated in this way.
See also: All about the PMC property tax amnesty scheme
Pune Municipal Corporation on a pilot basis will impose additional tax on flats and bungalows that have more amenities as compared to other properties in the same locality.
There was a disparity in the levy while charging property tax was as per ready reckoner. So now the tax will be levied according to the facilities and the price of the flats. The more luxurious the facility, the higher the tax,” said Vikram Kumar, municipal commissioner, PMC.
This decision is made based on the report by Gokhale Institute of Politics and Economics, mentions a HT report. According to it, applying capital tax based on the value of the property instead of its age and the ready reckoner rates in the area it is located would result in the PMC collecting more tax.
PMC has over eight lakh properties from which it collects property tax. Till May 31,2022, PMC had collected Rs 939.89 crore.
See also: A guide to paying PCMC property tax
With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: anuradha.ramamirtham@housing.com
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