HomeUrban NewsBangaloreBengaluru Civic Body to Auction Properties of Tax Defaulters with Over Rs...

Bengaluru Civic Body to Auction Properties of Tax Defaulters with Over Rs 365 Crore in Dues Starting December 2

The Bruhat Bengaluru Mahanagara Palike (BBMP) has announced that it will begin auctioning properties of tax defaulters starting December 2, 2024. This move follows several months of non-payment, despite the introduction of the One-Time Settlement (OTS) scheme nine months ago, which provided tax defaulters with a chance to clear their dues at a reduced cost by waiving penalties and interest. However, many property owners did not take advantage of the scheme, prompting BBMP to take stricter action.

As of November 23, 2024, BBMP’s data revealed that approximately 2.3 lakh property owners owe over Rs 365 crore in property taxes. The total arrears across nearly 4 lakh properties in Bengaluru amount to Rs 734 crore, with a significant portion stemming from non-residential properties. The auction will focus on these properties, and BBMP officials have confirmed that the process of issuing notices to defaulters will begin on December 2, 2024. The properties will be auctioned publicly, excluding those protected by court orders. The OTS scheme, aimed at encouraging defaulters to settle their tax liabilities, offered reductions on penalties and interest charges. Despite this incentive, more than two lakh property owners failed to make use of it. With the scheme’s deadline fast approaching, BBMP does not anticipate a large influx of payments on the final day. As a result, the BBMP is moving forward with the auction plan as a stronger measure to recover the Rs 734 crore in outstanding taxes.

BBMP’s decision to auction the properties highlights its determination to address the growing tax arrears, particularly from nearly 20,000 non-residential property owners responsible for approximately Rs 150 crore in dues. Additionally, BBMP has successfully collected over Rs 221 crore from properties that were previously unassessed or outside the tax net, expanding the city’s tax base. The BBMP also estimates that around 5 lakh properties in Bengaluru are not registered with a khata, meaning they are not paying property taxes. Property owners in this category can now apply for a provisional tax number online, which will allow them to pay their outstanding taxes. This auction of tax-defaulter properties is part of the BBMP’s broader effort to ensure efficient property tax collection in Bengaluru, which is crucial for funding the city’s infrastructure and civic services. The threat of property auctions is expected to motivate many defaulters to clear their dues, contributing to the BBMP’s revenue and the city’s development.

RELATED ARTICLES
- Advertisment -spot_img

Most Popular

Recent Comments

Bollywood Actor Hrithik Roshan Rents Sea Facing Apartment To Girlfriend Saba Azad for Rs 75000 per month

Bollywood Actor Hrithik Roshan Rents Sea Facing Apartment To Girlfriend Saba Azad for Rs...

0
Bollywood actor Hrithik Roshan has leased his sea-facing luxury apartment in Juhu to his partner Saba Azad for Rs 75,000 per month. The arrangement,...
MHADA Extends Deadline For 5,285 Flats, 77 Plots In Thane, Vasai Till September 12

MHADA Extends Deadline For 5,285 Flats, 77 Plots In Thane, Vasai Till September 12

0
Affordable housing seekers in Thane and Vasai have been given additional time to secure a home under the Maharashtra Housing and Area Development Authority’s...
SAIL Supplies 8000 Tonnes Critical Steel for Udaygiri and Himgiri Frigates

SAIL Supplies 8000 Tonnes Critical Steel for Udaygiri and Himgiri Frigates

0
The Steel Authority of India Limited (SAIL) has reinforced India’s stride towards defence self-reliance by supplying nearly 8,000 tonnes of critical-grade steel for two...
Property Prices Rise in 45 Cities as Home Loan Rates Ease in Q1 FY26

Property Prices Rise in 45 Cities as Home Loan Rates Ease in Q1 FY26

0
Property prices across India witnessed a broad-based upswing in the first quarter of FY26, with 45 of the 50 monitored cities recording annual appreciation,...
CIDCO Advances 667 Acre Navi Mumbai Aerocity Ahead Of Airport September Launch

CIDCO Advances 667 Acre Navi Mumbai Aerocity Ahead Of Airport September Launch

0
As the Navi Mumbai International Airport (NMIA) gears up for operations in September 2025, the Maharashtra government has accelerated development plans for a 667-acre...