PMC Weighs Additional Tax on Student Hostels and PG Accommodations to Boost Revenue

In a bid to augment property tax income, the Pune Municipal Corporation (PMC) is actively considering the imposition of an extra tax on student hostels and paying guest accommodations. According to sources within the administration, the civic body has formally submitted a proposal to the standing committee for thorough examination and eventual approval.

Given the substantial student populace in the renowned ‘Oxford of the East,’ a considerable number of property owners have repurposed their flats and buildings into hostels or paying guest accommodations. These lodgings aim to meet the housing needs of students attending academic institutions or preparing for competitive examinations like UPSC, MPSC, banking, IIT, and medical admissions.

Despite the commercial nature of these properties, they currently fall under the tax purview of residential property rates. Officials, who preferred to remain anonymous, suggest that the proposal is in its final stages and is poised to secure approval in the near future.

Source: www.mypunepulse.com