On Monday, the civic administration had scheduled to auction 32 tax-defaulters’ commercial properties; however, 21 of them paid off their outstanding amount in full, totaling Rs 1.83 crore, and seven of the units that were up for bids were not purchased.
The head of the property tax department at Pune Municipal Corporation (PMC) said that not a single bidder expressed interest in purchasing the seven properties. The properties will have their price reduced by a maximum of 25% and relisted for sale.
21 owners paid off their outstanding amount, according to civic authorities on Monday; two only made a partial payment. Due to a legal dispute, two properties were not considered for the auction. The civic body had estimated that the sale of 32 properties would bring in Rs 16.02 crore prior to the auction process.
A senior PMC official stated that the owners will receive any additional funds raised from the auction of the seven properties above the amount owed in taxes. They’ll need to submit an application. The funds will be placed into the accounts of the civic administration if they are not claimed within six months.
The auction was the last avenue investigated for tax recovery, according to officials. Other actions were taken, such as sending out notices and temporarily sealing off property. The PMC took control of the property and put its name on the 7/12 abstracts if this received no response.