Mc Hopes To Earn 150 Crore Property Tax This Fiscal Year, Real Estate News, ET RealEstate
LUDHIANA: With the civic body recovering Rs 102 crore property tax so far this fiscal year, officials hope to recover at least Rs 150 crore till March, 2024. Officials said now that the 10% rebate period has ended, they will focus more on recovery with the help of a one-time settlement (OTS) policy and contact people who have not cleared their dues.
Under OTS, which was implemented on September 14, MC officials have recovered Rs 3.20 crore. Also, defaulters paid their dues before implementation of the OTS. From October to December, there is no rebate on property tax payment and one-time settlement policy without interest. Penalty is also applicable till December-end.
Officials said that they were reviewing malls and commercial properties from which they could get more returns. Commercial properties in areas like Sarabha Nagar and BRS Nagar would be checked as people received higher rent here but did not pay correct tax return, they added.
MC superintendent Vivek Verma said, “It could become possible to achieve this mark as we had linked all blocks with UID numbers. We have been able to catch defaulters with the help of technology.”
