Pune civic body urges govt to release stamp duty revenue share
Real Estate

Pune civic body urges govt to release stamp duty revenue share

The Pune Municipal Corporation (PMC) has urged the Maharashtra government to release its part of stamp duty charges that amount to Rs 237 crore.

According to standing committee chairman, Hemant Rasane, the Pune Municipal Corporation is suffering from the loss of revenue due to the Covid-19 pandemic. The civic body should get its share from its state government. It will help them to continue the Covid mitigation work, he said. The Pune civic body has urgently requested Rs 176 crore.

As per the civic administration, they have decided to decrease the budget expenses because of low revenue generation during 2020-21 and initiated a 40% cut. Only necessary services, compulsory, and emergency works will be provided funds.

A senior PMC officer has said that the revenue sources are limited. The share that the Maharashtra government gives is one of their key sources of income. If used properly, the civic body can survive its financial crisis, the official said.

Several initiatives, the procurement and distribution of life-saving injections for free, Rasane said that they have been spending on the Covid-19 works. The state government should provide the funds which will be utilised to control the pandemic situation, added Radane.

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Also read: Maha property registrations & revenue drops by 60% due to Covid-19 curbs

Also read: How the stamp duty strategy worked for Maharashtra

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