in

Chandigarh civic body sends Rs 1 crore property tax notice to Hotel Mountview, Real Estate News, ET RealEstate

Chandigarh civic body sends Rs 1 crore property tax notice to Hotel Mountview, Real Estate News, ET RealEstate
CHANDIGARH: The municipal corporation (MC) has sent a property tax recovery notice of Rs 1.20 crore to Hotel Mountview, a five-star property of the UT administration that is run by its entity Chandigarh Industrial Tourism and Corporation (Citco).

The hotel has been asked to make the payment within a month, otherwise strict action would be taken, that could go up to sealing of the building. Mountview is the first five-star hotel slapped such a huge tax notice during this financial year.

The amount is pending from past few years. The civic body had raised the demand earlier too. With the hotel authority failing to respond, the MC finally issued the notice.

“We have given sufficient time to the hotel to pay the tax. Although they have paid the tax of the current financial year, they are yet to pay their dues. The amount is quite big. They will have to pay the money in the stipulated time period, failing which action will be taken against them,” sources said.

Property tax collection is one of the major sources of income of the MC. The tax branch has been focusing on sending recovery notices to defaulters. The city has around 1.20 lakh taxpayers from both commercial and residential properties. Out of this, around 80,000 taxpayers had paid up during the threemonth rebate period starting April. The defaulters would have to pay 25% penalty and 12% interest on the total amount of their tax.

The civic body has earned over Rs 39 crore from commercial and residential property taxpayers. A sum of Rs 36.06 crore — Rs 24.78 crore from commercial properties and the remaining Rs 11.28 crore from residential properties — was received during the rebate period from April till June.


What do you think?

Written by Realty Beat

Leave a Reply

Your email address will not be published. Required fields are marked *

SC directs demolition of Supertech Emerald's twin towers in three months, Real Estate News, ET RealEstate

SC directs demolition of Supertech Emerald’s twin towers in three months, Real Estate News, ET RealEstate

Pending home sales in U.S. drop for second straight month in July, Real Estate News, ET RealEstate

Pending home sales in U.S. drop for second straight month in July, Real Estate News, ET RealEstate