Property tax set to rise under UAA scheme in Kolkata civic body areas, ET RealEstate

September 16, 2023

KOLKATA: Be prepared to shell out more tax for your property in Kolkata Municipal Corporation areas as the civic body has revised unit area values for land and buildings under its Unit Area Assessment (UAA) scheme.

The revision, as proposed by the KMC assessment department and accepted by the mayor-in-council, will lead to a hike in property tax rates of residential buildings and flats of all categories.

The KMC has made house tax assessment under UAA mandatory and about 35% of taxpayers have already switched to UAA while notices are being sent to the rest to do the same. The rate revision will affect around 9 lakh property owners, KMC revenue department officials said.

Faced with a cash crunch, the civic brass had decided to upwardly revise the property tax structure last year but was asked by the state government to reconsider the steep hikes proposed. The current revision has been done in consultation with the state urban development and municipal affairs department, said a senior assessment department official.

The revised proposal will be placed at the meeting of the KMC house on Saturday.

Under the UAA scheme, the city’s properties (land and buildings) have been divided into seven categories and zones based on location and amenities enjoyed by residents.

According to the new proposal, the base unit area value of category A has gone up from Rs 74 per sq ft per annum to Rs 81 per sq ft per annum. Properties in some of the city’s prime residential areas – Park Street, Theatre Road, Loudon Street, Alipore and some areas of Ballygunge-Gariahat Road – fall under this category.

Similarly, the base unit area value for category B has gone up from Rs 56 to Rs 62, that of category C from Rs 42 to Rs 46 and category D from Rs 32 to Rs 35. The hikes for categories E, F and G are marginal. The civic body will give relief to residents of areas declared refugee rehabilitation zones.

  • Published On Sep 16, 2023 at 11:00 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Source link

Abhay Singh

Web Developer

Leave a Comment