Pune civic body starts assessment of metro properties

27 Sep 2023 CW Team

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.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..