Real estate Developer: January 2015

Monday, 5 January 2015

Pune leading towards being ‘Smart City’

E-governance has been a key to convert cities to ‘Smart Cities’. Pune seems to have taken this route by coming up with online property registration & tax payment. While this is in the line with the ‘Smart Cities’ agenda of the government this has also made life easier for property owners!

Earlier last year, in the month of April, the property tax department of the Pune Municipal Corporation (PMC) started its own website to help property owners to handle their property tax issues. A few months later, the Inspector General of Registration and Controller of Stamps (IGR) introduced measures to simplify the property registration process for sale agreements, between buyers and developers.

These steps taken by the Pune government seem to have a two pronged advantage. To begin with, these measures would help property buyers in multiple ways. Secondly, these measures can also be considered as the initial steps towards creating a Smart City as e-governance plays a critical role in this process.

At present, about 20 per cent of the property taxes are being paid online through the new website. It is expect to increase to about 50 per cent soon - PMC.

E-registration has also been a success as developers have been mandated to open counters at the site office so that a visit to the sub-registrar’s office may be avoided, thereby, saving time for the buyers.

While the city is far from becoming a Smart City, such steps taken towards achieving the mission definitely enhance the experience of the real estate buyers as well.

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