In Pune, 2 lakh out of 4.5 lakh property owners have failed to submit the mandatory PT3 forms required for a 40% property tax discount on self-occupied homes. Despite multiple extensions and a final deadline of August 15, only 2.5 lakh forms were submitted. Many properties without submitted forms were found to be locked or rented, potentially disqualifying owners from the discount. To address this, the Pune Municipal Corporation (PMC) is conducting city-wide surveys and collaborating with local housing societies to ensure accurate property occupancy records and encourage compliance among property owners.
Many property owners in Pune have failed to submit their mandatory PT3 forms, which are required to claim a 40% property tax discount on self-occupied homes. Approximately 2 lakh out of 4.5 lakh property owners have not completed this process, despite multiple extensions of the submission deadline, which ended on August 15. City officials say that only 2.5 lakh forms have been submitted, highlighting a significant gap in compliance.
According to Pune Municipal Corporation (PMC) officials, the lack of submitted PT3 forms could be due to property owners renting out their homes instead of living in them. A recent survey conducted by the PMC revealed that many properties without submitted forms were either locked or leased to tenants. This situation raises concerns about property owners missing out on tax savings by not filing the necessary documentation.
In response to this issue, the PMC initiated a pilot project at the Sinhagad Road ward office in June to assess compliance and identify potential errors in tax assessments. This review uncovered cases where self-occupied properties were mistakenly categorised for additional tax penalties. A city-wide property survey is now planned to ensure accurate information on property occupancy across all wards.
To facilitate the process, the PMC sought cooperation from local housing societies to gather information on residents' occupancy statuses. However, the response was less than adequate, prompting officials to consider additional outreach efforts. Madhav Jagtap, head of the PMC's property tax department, emphasised the civic administration's interest in providing discounts for self-occupied properties. He stressed the importance of property owners following the submission process to take advantage of these tax reductions.
The 40% tax discount policy for self-occupied properties has a complicated history. Originally established in 1970, the discount was scrapped in 2018-2019 after being deemed illegal by central government auditors due to a lack of formal notification. Following numerous complaints from the public, the policy was reinstated in the 2022-2023 financial year, allowing property owners to benefit again. Given its importance, civic authorities are eager to ensure that all eligible homeowners can claim this discount.
The PMC continues to encourage property owners to complete their PT3 submissions promptly to avoid possible penalties and ensure they receive the financial benefits available to them. Officials are now working on strategies to raise awareness regarding the importance of these forms and to engage with residents directly to motivate compliance.
As Pune grows, maintaining accurate property records is vital for effective taxation and urban planning. This situation also highlights the importance of clear communication between the civic body and property owners, ensuring everyone understands their responsibilities and the potential benefits they stand to gain.
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