+
Ludhiana MC collects 70.7 per cent property tax
Real Estate

Ludhiana MC collects 70.7 per cent property tax

In the first half of the current fiscal year, the Ludhiana Municipal Corporation (MC) successfully collected approximately 70.7% of its targeted property tax revenue, which was set at Rs 1.30 billion for the entire year. The MC aimed to secure Rs 900 million in property tax collections by September 30. To encourage taxpayers to file their returns promptly, the local bodies department announced a 10% rebate for those who paid by the September 30 deadline.

According to sources, the Ludhiana MC collected around Rs 926.5 million by the midnight deadline on September 30, thanks to over 0.24 million property tax returns filed by residents. On the last day, the MC managed to collect over Rs 100 million, bringing the total property tax collection to Rs 815 million by Friday evening.

A senior MC official mentioned, "A total of 0.24 million property tax returns were filed, and we have received Rs 926.5 million. However, since some entries are yet to be made, we are expecting the amount to reach Rs 940 million."

The state department of local bodies had approved a property tax target of Rs 1.30 billion for the current fiscal year. With the property tax deadline set for December, the MC now has three additional months to meet the target. Authorities are hopeful of surpassing this goal, as the state local bodies department recently introduced a one-time settlement (OTS) policy. Under this policy, property tax defaulters from previous years will not incur penalties or interest if they settle their dues before December 31. Notably, some government departments are also among the defaulters.

In the first half of the current fiscal year, the Ludhiana Municipal Corporation (MC) successfully collected approximately 70.7% of its targeted property tax revenue, which was set at Rs 1.30 billion for the entire year. The MC aimed to secure Rs 900 million in property tax collections by September 30. To encourage taxpayers to file their returns promptly, the local bodies department announced a 10% rebate for those who paid by the September 30 deadline. According to sources, the Ludhiana MC collected around Rs 926.5 million by the midnight deadline on September 30, thanks to over 0.24 million property tax returns filed by residents. On the last day, the MC managed to collect over Rs 100 million, bringing the total property tax collection to Rs 815 million by Friday evening. A senior MC official mentioned, A total of 0.24 million property tax returns were filed, and we have received Rs 926.5 million. However, since some entries are yet to be made, we are expecting the amount to reach Rs 940 million. The state department of local bodies had approved a property tax target of Rs 1.30 billion for the current fiscal year. With the property tax deadline set for December, the MC now has three additional months to meet the target. Authorities are hopeful of surpassing this goal, as the state local bodies department recently introduced a one-time settlement (OTS) policy. Under this policy, property tax defaulters from previous years will not incur penalties or interest if they settle their dues before December 31. Notably, some government departments are also among the defaulters.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

TransIndia Launches World View Collection at Meridian

TransIndia Group has recently launched ‘The World View Collection’ at TransIndia Meridian, its residential development in Mumbai’s Sion-Matunga Corridor. The campaign introduces residences located on the 22nd floor and above, offering expansive views of the cityscape, Eastern Bay and the sea.The collection positions elevation as an integral part of the living experience, with the higher-floor homes designed around openness, changing skylines and wider city views. Rather than focusing only on floor height, the campaign highlights how elevated residences can offer a different perspective o..

Next Story
Real Estate

Villaro Design Studio Opens on MG Road in Delhi

Furniture designer Yuvraj Vohra has recently launched the new Villaro Design Studio on MG Road, Delhi, introducing a furniture brand built around an architectural approach to design, materiality and craftsmanship.Trained as an architect, Vohra approaches furniture as an integral part of the spatial experience rather than as standalone objects. Villaro's design philosophy focuses on proportion, material expression and the relationship between furniture and its surrounding architecture.The collection explores combinations of stone, marble, wood, metal and upholstery, with materials treated as st..

Next Story
Infrastructure Urban

India-Belgium Trade Shows Signs of Recovery in FY2026

India-Belgium economic relations are gaining renewed momentum following Belgian Prime Minister Bart De Wever’s three-day official visit to India from September 2–4, 2026. The visit, the first by a Belgian Prime Minister to India in two decades, focused on strengthening cooperation across trade, investment, defence, technology, connectivity and logistics.Belgium is an important European investment and trading partner for India, with cumulative foreign direct investment inflows of around $4.25 billion between April 2000 and March 2026. The country is a major European manufacturing, trade and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code