Showing posts with label Property Tax. Show all posts
Showing posts with label Property Tax. Show all posts

Tuesday, November 21, 2023

BBMP: Digitization of property records started

 BBMP: Consideration of difference amount from self-declared property tax verification, 2016

 Digitization of property records started

Kere Manjunath ಕೆರೆ ಮಂಜುನಾಥ್

 BENGALURU: BBMP has started the work of digitising the information of properties in the city and erasing the property tax being paid under self-declaration tax system.

 Digitization has been started in the context of providing all the documents including property account, account transfer online. This message is being sent to the property owner's mobile and BBMP officials said to provide information accordingly.

 Owners are paying tax under self-declared property tax system. However, there are many differences in this. Therefore, BBMP has started issuing 'Demand Notice' from 1st of November to ask the Revenue Officers of BBMP to physically check every building and pay the correct tax. Along with this, the officials of the revenue department have been instructed to carry out the digitization process as well.

 Target of 40 properties: 

'The process of property tax verification and digitization of documents is being carried out simultaneously, and the target has been given that the revenue inspector and the tax inspector should complete the process of 40 properties each day', said Ajay, joint commissioner of Rajarajeshwarinagar zone.

How much property tax is being paid under self-declared property tax system since 2016. What is the actual area of the building? Information will be checked for map violations. A notice will be issued to the property owners to pay the difference amount and interest due from 2016.

 "In the past, properties were randomly checked for payment of property tax and notices were issued if there was any discrepancy. Now all properties are being checked. In addition, the digitization process is also being carried out to make all the documents of the properties available online,' he informed.

 Property tax payment receipt and electricity bill of BESCOM should be provided for property record digitization and property tax review. From the electricity bill, it will be known whether they have been living in the house since then and whether they have been paying taxes since then,' he said.

 Message to provide record

 Digitization of asset records is underway. BBMP is sending messages (SMS) in Kannada and English to property owners. During the physical inspection of the property, the owners of the properties should provide the necessary documents to our revenue department officials," said BBMP Chief Commissioner Tushar Girinath.

 Bank interest only!

 Self declaration property tax system has been in force since 2016-17 under BBMP. Then identify those who have wrongly entered the zone in 2017-18 itself.

 They should have been given notice. However, the notice has been issued in August 2021. Thus, double tax cannot be collected as penalty. Also, the government has issued strict directives that the revenue authorities should improve tax validation checks.

 The BBMP has been informed that the bank may charge the difference amount and interest rate on the same. The cabinet meeting held on January 5, 2022 has decided that if there is any loss to BBMP due to this order, the government will not bear it. Accordingly, the Urban Development Department has issued an order on September 13, 2023.

'Duct on Roads by BBMP'

 Bengaluru: BBMP plans to lay large-scale pipes on roads in the city and provide them to telecom or cable companies on rent basis, said Chief Commissioner Tushar Girinath.

 There is a duct system in White Topping and some major roads. Other roads do not have this system. So many organizations are digging the road to install cable or OFC. It is planned to avoid this," he informed the reporters on Monday.

 Installing a large size pipe in the road will avoid digging the road again and again. Therefore, it is planned to install the pipe by BBMP. Tenders will be called for this project soon, he said.

 Compared to BBMP, BESCOM has installed more cables through ducts in the city. There are ducts on some roads of BBMP. BESCOM has about 400 km of ducts. OFC and cable companies should adopt their cables in this. Apart from this, there is no permission to install the cable elsewhere,' said Tushar Girinath.

 Unauthorized cables installed on pavements and poles are being cleared in many parts of the city including Mahadevpur area. Cable companies have been informed about this. Unauthorized cable should be taken by himself. Otherwise, we will vacate.


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Tuesday, November 7, 2023

Property Tax: 'Mobile Notice' to Owners

 Collection of ₹3 thousand crore; Record collection compared to last row

 Property Tax: 'MOBILE NOTICE' to Owners

Kere Manjunath ಕೆರೆ ಮಂಜುನಾಥ್

 Bengaluru: There has been an increase in property tax collection under BBMP. A 'mobile notice' is being issued to the owners in view of achieving the full target.

 At the end of FY31, 64.50 percent of the tax was collected, and as per the target recorded in the budget, ₹1,619 crore is yet to be collected. A target of ₹ 372 crore more than the last financial year has been set this year.

 As of January 2022-23, property tax had been collected at ₹2,890 crore. By the end of October this year, the mark of ₹ 3 thousand crore has been reached. Although this is a record collection, one and a half thousand crores is still outstanding. So BBMP decided to collect all this.

 A one-time message was sent to the owner's mobile for property tax arrears. But, this year SMS is repeatedly sent to the mobile, requesting to pay tax. Also, the zonal authorities have been instructed to take further action as per the rules.

 'Property tax is the primary and most important source of revenue for a city corporation. All property owners should pay their property taxes promptly. "SMS messages and letters/notices are being sent to the owners who have arrears," said Munish Maudgil, Special Commissioner, Revenue Department, BBMP.

 Online link https://bbmptax.karnataka.gov.in can be used to pay property tax. He said that if there are any queries, if information is required, the helpline can be called 1533.

Property tax review begins

 BBMP has started the process of physically inspecting the properties in the city and issuing 'Demand Notice' to pay the correct tax.

 Owners are paying tax under self-declared tax system. However, there are many differences in this. Therefore, revenue officers of BBMP are physically inspecting each building, fixing its tax and digitizing it. It is suggested that this tax, which is fixed zone wise, should be paid.

 When the building tax is rescheduled, it is not visible in the owner's login. What is in the 'Demand Notice' is not changing online. Thus confusion is created. The officials also said that arguments are going on between the owners and the officials.

 A target has been given that the Revenue Inspector (RI) and Tax Inspector (TI) should check 25 properties each day and fix the actual tax. A circle of six thousand properties is to be maintained by RI and TI. In addition to this, we have the work of preparation of voter list for Vidhan Parishad election, Lok Sabha election, property-advertisement department. It is a stressful job and they are working till 10 at night,' the revenue department staff of BBMP said.

 Collection of property tax in previous years

  •  2020–21; ₹2,800 crore
  •  2021–22; ₹3,110 crore
  •  2022–23; ₹3340.86 crore

 Zone; target; collection; balance

 (in ₹ Crores) as on October 31

 Bommanahalli; 501; 316.44; 184.56

 Dasarahalli; 164; 83.55; 80.45

 East; 764; 532.9; 231.1

 Mahadevpur; 1238; 809.33; 428.67

 RR Nagar 345; 200.33; 144.67

 South; 627; 436.19; 190.81

 West; 493; 302.29; 190.71

 Yalahanka; 429; 260.66; 168.34

 Total; 4561; 2941.69; 1619.31

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Friday, October 6, 2023

Jayanagar got 'Commercial Area' feather

 Immovable property: Value appreciation for peripheral property, agricultural land as per revised guideline value

 Sadashivanagar has 'High Value', Jayanagar got 'Commercial Area' feather



Kere Manjunath ಕೆರೆ ಮಂಜುನಾಥ್

BENGALURU: Sadashivnagar is one of the highest value localities in the city with a reputation as a prestigious residential area. surpassing M.G. Road, Cunningham Roads, Jayanagar has become the most expensive 'Commercial Area'.

 As per the Revised Guideline value of Assets effective from October 3, the value of residential area is highest in Sadashivnagar. Sankey Road, Sadashivnagar properties are priced at ₹3.02 lakh per sq.m. In Acchaiah Shetty layout, the price is ₹2.96 lakh per sq.m., while in Palace Lower Orchards in this area, the rate is ₹1.43 lakh per sq.m. Assets on 11th Main Road, Jayanagar 4th Block fetched ₹2.76 lakh per sq.m, which is high in this segment.

 The guideline price for commercial plots from Cosmopolitan Club Circle to 11th Main Road in Jayanagar is ₹5.36 lakh per sq.m., which is the highest in the urban district. 5.03 lakhs in Jayanagar's 27th cross and 30th cross. 9, 10, Main road, 33rd, 36th, 46th Avenue, 100 Feet Road, South End, etc. The price of commercial plots in this vicinity ranges from ₹4.65 lakh to ₹3.65 lakh.

 ₹ 3.62 lakh per sq.m for commercial plots in prestigious commercial hubs of the city such as Cunningham Road, MG from Kasturaba Road to Trinity Circle. ₹.3.15 lakh for roadside commercial plots. Beyond the value of both these areas, Jayanagar is the highest value 'Commercial Area'.

Mahadevpur, K.R. Residential and commercial areas in Pura and Varthur areas have seen a substantial increase in guideline rates and value has also increased. In addition to this, the guideline price for agricultural land is in crores per acre. ₹13 crore per acre for agricultural land adjacent to Doddenekkundi Ring Road in Mahadevpur.

Guideline values are fixed in a separate category for apartments and villas. ₹ 2.86 lakh per square meter in Gandhinagar, ₹ 2.06 lakh in Sadashivnagar. ₹1.33 lakh in Jayanagar. Villas in Hersaghatta and Varthur area are of special category and cost more than ₹1 lakh per sq.m.

 15 to 30 percent increase: 

After five years, the government has revised the guideline values for immovable property, increasing it by 15 to 30 percent. According to real estate experts, the guideline price of residential plots has increased by 5 to 20 percent, the price of apartments by 10 to 15 percent, the price of villas by 10 to 20 percent and the price of agricultural land by 30 percent.

Where is the value of residential areas high?

 (per square meter)

  •  Sankey Road, Sadashivnagar; ₹3.02 lakh
  •  OTC Road Avenue – Nagartarpet Road; ₹2.84 lakh
  •  Jayanagar 4th Block 11th Main Road; ₹2.76 lakh
  •  Malleswar Margosa Road, 15th Avenue, 8th Main Road Junction; ₹2 lakh
  •  Hosur Road; ₹1.98 lakh
  •  Bannerghatta Main Road; ₹1.91 lakh
  •  Rajajinagar Dr. Rajkumar Road; ₹1.81 lakh
  •  HSR Layout BDA Complex Road; ₹1.75 lakh
  •  Rajajinagar Bashyam Circle; ₹1.75 lakh
  •  Basavanagudi Kanakapura Road; ₹1.66 lakh
  •  RPC Layout 1st Main Road; ₹1.6 lakh
  •  JP City 15th Avenue; ₹1.44 lakh
  •  RR Nagar Jayanna Circle; ₹1.2 lakh
  •  Nagarabavi Outer Ring Road; ₹90 thousand

 How much per acre of agricultural land?

  •  Around Doddanekkundi Ring Road; ₹13 crore
  •  Mahdepur Outer Ring Road; ₹12 crore
  •  Around Benniganahalli National Highway; ₹11.80 crore
  •  ITPCL; ₹11 crore
  •  Kundalahalli Junction to ITPL; ₹10.21 crore
  •  Kanakapura Road – Sarakki to Konnakunte; ₹9.99 crore
  •  Sarjapur Road; ₹9.88 crore
  •  B. Narayanpur Main Road; ₹9.51 crore
  •  Krishnarajpur National Highway; ₹9.4 crore
  •  Hagadur/ Hudi; ₹9 crore

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Saturday, September 16, 2023

SAS Property Tax: Order for payment of difference amount, interest

 Wrong entry in zonal classification in SELF ASSESSMENT SCHEME (SAS) property tax system

 SAS Property Tax: Order for payment of difference amount, interest



Kere Manjunath ಕೆರೆ ಮಂಜುನಾಥ್

 BENGALURU: The government has ordered that property owners who have wrongly declared the zonal classification under SELF ASSESSMENT SCHEME (SAS) property tax system under BBMP will have to pay the difference amount and interest only.

 Property owners make mistakes while choosing zones in SELF ASSESSMENT SCHEME (SAS) property tax regime. This mistake was not informed by BBMP to the owner in time. Thus, double property tax money cannot be collected from the taxpayer. The BBMP has been informed that the bank may charge the difference amount and interest rate on the same.

 SELF ASSESSMENT SCHEME (SAS) property tax system has been in force since 2016-17 under BBMP. Then those who entered the zone wrongly should have been identified in 2017-18 itself and given a notice. However, the notice has been issued in August 2021. Thus, it clarified that double tax cannot be collected as penalty. Also, the revenue authorities have been strictly directed to improve the tax validation verification.

 If the zone classification details are wrongly entered in the property tax software and computerized, such notices should be cancelled. In cases where the excess amount has already been paid, it is ordered that the amount should be adjusted against the upcoming lines.
 The cabinet meeting held on January 5, 2022 has decided that if there is any loss to BBMP due to this order, the government will not bear it. Accordingly, the Urban Development Department has issued an order on September 13, 2023.

78 thousand notices!

 Zonal classification was wrongly entered in 78,254 properties in SELF ASSESSMENT SCHEME (SAS) property tax. Therefore, BBMP had prepared notices in 2021 that double the amount of the difference should be paid as penalty and interest as per the law. Out of this, 11,725 notices were issued. Taxpayers responded to 7,891 notices and paid property tax of ₹13.33 crore.

 The tax amount of 78,524 properties is ₹120 crore, for which the BBMP had prepared a notice to collect a total of ₹361 crore with a penalty of ₹240 crore.

 7,891 notices were issued, property tax of ₹3.54 crore, fine of ₹7.08 crore, interest of ₹2.69 crore and cess of ₹13.33 crore were collected. It was estimated on June 31, 2021 that a total of ₹440 crore would be collected from the remaining 70,633 properties. In addition to all this, the proposal of double penalty and interest was submitted by the Chief Commissioner of BBMP to the government.

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