Property tax re-assesment drive yields Rs 3.49 crore

Property tax re-assesment drive yields Rs 3.49 crore

Continuing its property tax re-assessment drive, the Bruhat Bangalore Mahanagara Palike (BBMP) has collected Rs 3.49 crore from owners of 10 properties in Shantinagar ward, including from the Karnataka State Cricket Association (KSCA),  Spencer Estate Limited, which houses Canara Bank and Shoba Pearl housing ICICI Bank.

According to an official note, KSCA had submitted to the Palike under the self assessment scheme (SAS) that the measurement of the property it owns on Cubbon Road, was 5,33,675 square feet. Based on this, the tax amount was calculated at Rs 21,60,791.

However, after verification, the Palike found the measurement of the property to be 6,36,733 square feet and, there by, the tax amount was Rs 53,48,771. The BBMP has now collected Rs 31,87,980 difference amount from KSCA.

The properties of Spencer Estate Limited (Canara Bank) and Shoba Pearl (ICICI Bank) have also been found to have been measuring more than what the owners claimed under SAS and the new tax amount, thereby, stands at Rs 51,38,597 and Rs 50,50,836 respectively.

Going by the measurements submitted by the two banks, the tax was calculated at Rs 23,29,492 and Rs 41,39,262 respectively. The Palike has collected Rs 1,40,45,525 from Canara Bank and Rs 45,57,870 from ICICI Bank.

Similarly, United Breweries (Holding) Limited and others had claimed that their property on Vittal Mallya Road measured only 10,06,275 square feet, while the actual measurement is 13,10,268 square feet. While the tax amount initially stood at Rs 5,11,67,761, it is Rs 71,43,005 now. The Palike has collected Rs 2,08,91,030 from the companies. HM Towers on Brigade Road, which had also submitted wrong measurements, paid Rs 21,35,348 while East West Hotels Limited, Residency Road, paid Rs 6,18,905.

Other properties that the BBMP collected the difference amount belong to Ballal Hotel Private Limited, Residency Road, Sivani and others, Museum Road, St Joseph’s College Hostel, MG Road, CF Jacob alias Mohan, Residency Road.

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