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PCB increases property tax by 900%: SGS Mall

1 Comment Sub Category:Property Tax,Pune Posted On: Aug 13, 2012

The SGS Mall has said that the Pune Cantonment Board (PCB) has made an increase of 900 per cent in the annual property tax.

Subhash Gulati, CMD, SGS Mall said the mall was paying an annual property tax of Rs 19.54 lakh every year adding that in 2010 the PCB revised the property tax of the mall, increasing it to Rs 1.80 crore from Rs 19.54 lakh.

It was not legal on part of the PCB to seal the entire property. It should have sealed only a part of the property worth of the disputed tax recover, said Gulati, adding that the district court has directed to pay thrice the amount of Rs 19.54 lakh, and has been paid before the deadline.

Due to the sealing of the mall and the adverse publicity, there has been a 30 to 40 per cent fall in the footfalls, lamented Gulati.

Subhash Kadam, chief revenue superintendent, PCB said as per the Cantonment Act 2006 rules, the PCB has increased the property tax of SGS Mall by 27 per cent. The total property tax dues is Rs 6.24 crore. However, only Rs 2.4 crore has been paid till now.

To read more real estate news:

SGS mall in Pune reopens following court order

One Response to “PCB increases property tax by 900%: SGS Mall”

  1. [...] PCB increases property tax by 900%: SGS Mall [...]

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