A plush five star hotel, tech parks that house big IT companies and shopping malls are among the properties whose combined property tax dues run up to Rs. 231.66 crore, according to figures released by the Bruhat Bengaluru Mahanagara Palike (BBMP).
Though the companies paid the property tax under the self-assessment scheme, the BBMP found that there is a difference between what was declared and the actual amount that is owed to the civic agency.
A survey, undertaken from February to April after the self-assessment made by owners of commercial properties, found that these 10 companies have declared a total area of 1,09,27,819 square feet for tax purposes whereas the tax payable is for 1,52,75,091 square feet, sources said.
ADVERTISEMENT
“These 10 companies have to pay up for the difference and the total due is Rs. 231.66 crores. Under section 147, schedule 3 of the Karnataka Municipal Corporations Act, we are entitled to take action against such defaulters. We will be sending notices. If they do not respond, we will initiate measures to recover the tax,” said M. Shivaraju, chairperson of the BBMP’s Standing Committee for Taxation and Finance.
They have until June 30 to pay the dues. “Until then, we will not be taking any action against these defaulters,” said Mr. Shivaraju.
Recently, the civic body seized movable assets of Manyata Tech Park, which owes close to Rs. 273 crore.
ADVERTISEMENT
2 loans re-paid
The BBMP will soon re-possess the Rajaji Nagar Market and the Malleswaram Market, which had been mortgaged to the Housing and Urban Development Corporation (HUDCO).
“We have repaid Rs. 143 cores and will possess both these markets soon,” said M. Shivaraju, chairperson of the Standing Committee for Taxation and Finance. He added that they are in the process of making arrangements to cough up an additional Rs. 40 crores to re-acquire Johnson Market, which is still under mortgage.