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4w ago

Indian Municipal Corporations Report Mixed Results in Record Property Tax Collections for FY 2024-25

Cities like Mumbai and Navi Mumbai achieved historic revenue milestones, while Pune and Pimpri Chinchwad fell short of targets, highlighting varied fiscal performances across urban centers.

Last Friday, the corporation in its executive committee meeting approved the agency’s highest ever budget of ₹3,722 crore for FY 2025-26, and its officials promised more infrastructure development. (Sakib Ali/HT Photo)
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Overview

  • The Brihanmumbai Municipal Corporation (BMC) set a record with ₹6,388 crore in property tax collections, surpassing its ₹6,200 crore target for FY 2024-25.
  • The Navi Mumbai Municipal Corporation (NMMC) achieved its highest-ever property tax revenue of ₹826.12 crore, aided by the 'Abhay Yojana' penalty waiver scheme.
  • The Pune Municipal Corporation (PMC) collected ₹2,365.31 crore in property tax, falling short of its ₹2,847.23 crore target, but saw its Building Permissions Department generate ₹2,601.88 crore, becoming its top revenue source.
  • The Pimpri Chinchwad Municipal Corporation (PCMC) missed its ₹1,000 crore target, citing election duties as a key factor, with a total collection of ₹965.71 crore.
  • Digital transformation played a significant role, with over 50% of Pune residents paying property taxes online, contributing ₹1,314.89 crore to the city's collection.