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.

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
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?