Bangalore malls found guilty of under-assessment of property tax


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Bruhat Bengaluru Mahanagara Palike (BBMP) has identified 55 properties in the city that are guilty of violating property tax assessments during an ongoing electronic survey. It has been found that majority of the properties in Bangalore surveyed had under-assessed their valuations to avoid a higher tax liability.

Officials have shared that these identified properties will now have to pay double the amount of their property tax, including arrears. The survey was taken up under the BBMP's Total Station Survey (TSS) programme.

MK Gunashekar, Chairman, BBMP standing committee on taxation and finance, has stated that the notices for three of these properties - Gopalan Mall, Salapuria Oasis Mall, and Ness Technologies - have been drafted and will be issued soon. BMPP has disclosed that these properties would have to submit Rs 28.76 crore as property tax to the authority and will be given 30 days to respond to the notice.

Meanwhile, property tax demand notices will be issued to the remaining tax violators in the coming days. The Bangalore civic authority expects to recover Rs 200 crore from such violators through penalties.

The ongoing electronic survey will cover 77 technology parks, 51 malls, 4,834 industries in the city, and thousands of major residential complexes. The aim of the survey is to identify violations in self-assessment of property tax.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

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