PCMC to Auction 43 Seized Properties Worth Rs.221 Crore on January 31; Includes Assets of Builders and Jewelers
Auction of Seized Properties by PCMC Fails Again; Third Attempt to be Made
Pimpri: The Pimpri-Chinchwad Municipal Corporation has initiated the auction process for 43 seized properties, both residential and non-residential, belonging to defaulters with outstanding dues exceeding ₹1 lakh. These properties include those owned by prominent builders and jewelers. The total market value of these properties is estimated at ₹221.53 crore. Interested bidders can apply until January 30, 2025, and the auction is scheduled for January 31, 2025.
Why the Auction?
Despite repeated notices, several defaulters failed to clear their property tax dues. Consequently, the PCMC sealed and seized these properties. With no response from the property owners, the corporation has decided to auction them. The list includes 43 properties—23 residential and 20 non-residential—located in areas like Nigdi, Akurdi, Chinchwad, Pimpri Market, Morwadi, Dapodi, Kasarwadi, Walhekarwadi, Charholi, Wakad, and more. The dues range from ₹1 lakh to ₹8 lakh per property.
Auction Details
The valuation of the properties varies, with some worth up to ₹1 crore.
Interested participants must register by submitting an application, along with copies of their Aadhaar and PAN cards, at the PCMC’s tax collection office by 3 PM on January 30, 2025.
To participate in bidding, a deposit of 1% of the property’s valuation (in the form of a demand draft) must also be made by the same date. Without this deposit, bidders will not be allowed to participate in the auction.
Opportunity for Defaulters
The defaulters have been given a 20-day window to settle their dues. If the property owner clears the outstanding amount along with auction-related costs within this period, their property will be excluded from the auction process.
Valmik Karad’s Case
Valmik Karad, an entrepreneur from Beed facing extortion allegations, had two flats in Wakad under his and his wife Manjli Karad’s names. Due to pending tax dues, the PCMC had seized one flat and announced its auction. However, the Karad family promptly paid the pending amount of ₹1,55,444 through the Bharat Bill Payment System (BBPS), avoiding the auction. They also cleared the current year’s dues for the second flat, resolving the issue completely.
