Pune Municipal Corporation seals ten properties for tax defaults

14 Sep 2021 CW Team

The Pune Municipal Corporation (PMC) sealed ten properties, including both residential and commercial, which have huge property tax dues.

PMC has sent notices to 9,000 property owners of residential and commercial properties, asking them to pay the due property taxes immediately after receiving the notices.

Pune has a total of 10.5 lakh properties, including residential, commercial, etc. The generated taxes from these properties are the main source of revenue for the corporation. While the property taxes payment goes throughout the year, the property taxes overdue keeps changing. The civic body has selected 9,000 property owners with property tax dues of Rs 200 crore.

The property department head of PMC, Vilas Kanade, said that the civic body had initiated a drive to recover more tax dues.

The civic body has introduced a special scheme for regular taxpayers, which helped generate revenue for the tax department this year.

On Friday, PMC crossed the mark of Rs 1,000 crore. It has around Rs 211 crore more than in the same period in the last financial year (FY). PMC's income was Rs 1,001.88 crore this year. As per data, owners of 6,26,072 have paid property taxes this year between April and August.

PMC has two sources of income, Octroi and the local body, major sources of income, but property taxes provide the highest revenue to the civic body. Through property taxes, PMC earns around Rs 1,400 crore to Rs 1,600 crore each year.

According to an official, PMC will initiate an arbitration route to resolve pending property tax issues. The civic body has taken up 10 cases of property tax issues in the court and will be disposed of via arbitration. The civic body hopes to raise Rs 35 crore from this initiative.

Image Source

Also read: Residential real estate demand infused by upcoming infra projects

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..