PCMC to Auction 88 Seized Properties on August 5

Auction includes properties from PCNTDA, prominent construction businesses, residential and non-residential properties owned by jewelry traders.
PCMC to Auction 88 Seized Properties on August 5

Pune: The Pimpri-Chinchwad Municipal Corporation has announced the auction of 88 properties seized from persistent tax defaulters on August 5.

The auction, open for participation until August 2, includes properties from the Pimpri-Chinchwad New Town Development Authority, prominent construction businesses, and both residential and non-residential properties owned by jewelry traders.

Declining revenues from construction permits have shifted the focus to tax collection as the primary source of income for the municipal corporation. Over the past five years, the corporation has emphasized recovering overdue taxes without increasing tax rates.

By surveying and taxing unregistered properties, they have significantly boosted their revenue. Now, they are proceeding with the auction of seized properties.

Last year, property owners with longstanding tax arrears received notices. With no response from the defaulters, the corporation seized 88 properties, now set for auction. These properties have tax arrears ranging from Rs 50,000 to Rs 3 lakh and market values between Rs 19 lakh and Rs 1.5 crore.

The auction will be conducted under the provisions of sections 42 to 47 of the Maharashtra Municipal Corporation Act, Schedule ‘D’, Chapter Eight (Taxation).

Prospective bidders must register with the municipal corporation's tax collection department at the main office by 3 PM on August 2, providing copies of their Aadhar Card and PAN Card along with a written application.

Any parties with financial interests or objections to the auctioned properties must submit their objections in writing with relevant documents before August 3.

The auction will take place on August 5 from 12 PM to 3 PM at the tax assessment and collection department office, according to Assistant Commissioner Nilesh Deshmukh.

Enjoyed reading The Bridge Chronicle?
Your support motivates us to do better. Follow us on Facebook, Instagram and Twitter to stay updated with the latest stories.
You can also read on the go with our Android and iOS mobile app.

Related Stories

No stories found.
The Bridge Chronicle