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NIFTY23,4060.33%
SENSEX74,3460.41%
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NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
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METAL13,5350.17%
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ENERGY40,1970.02%

Greater Bengaluru Authority Detects Rs 688 Crore in Property Tax Evasion

Key Figures:

  • Rs 688 crore: Total property tax evasion detected by Greater Bengaluru Authority (GBA)
  • 23,600: Number of properties involved in tax evasion
  • Rs 318 crore: Property tax evasion detected in the second round
  • 13,600: Number of properties involved in tax evasion in the second round
  • Rs 370 crore: Property tax evasion detected in the first round
  • 10,000: Number of properties involved in tax evasion in the first round
  • 67,000: Number of notices issued in the second round
  • 49,000: Number of notices issued in the first round

GBA conducted two rounds of property GPS and special house-to-house verification drives, resulting in the detection of Rs 688 crore in property tax evasion across 23,600 properties. In the second round, Rs 318 crore in tax evasion was identified involving nearly 13,600 properties. In the first round, around 10,000 properties were found to have underpaid taxes amounting to Rs 370 crore.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

GBA officials have issued show-cause notices to property owners via physical communication, SMS, and IVRS. Citizens who receive notices can respond or file an appeal within 15 days through an online portal. They may also clear dues, along with applicable interest and penalty, through a designated property tax payment website.

In a separate move, GBA auctioned seven properties across East and North City Corporation limits to recover long-overdue tax arrears. Tax dues have swelled to Rs 437 crore across nearly 7,000 properties, prompting civic authorities to initiate auctions after repeated notices failed to elicit compliance.

GBA's IT wing, in collaboration with National Informatics Centre (NIC) and city corporation teams, carried out the verification process using a combination of GPS-based house-to-house surveys, drone imagery of individual properties, digitised built-up area data, on-ground assessment of property usage, and floor-wise verification. The system aims to ensure transparency and accountability, bringing property owners who have underreported details into the tax net through data-backed verification.

GBA officials have urged property owners to verify their tax declarations and respond promptly to notices issued under the drive.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Investor Takeaway

Investors should be aware of potential tax implications and regulatory actions in the real estate sector.

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