Bengaluru real estate: BBMP collects ₹4,930 crore property tax in FY25, achieves 95% of its target
Bengaluru’s municipal body, Bruhat Bengaluru Mahanagara Palike (BBMP), said in a statement that property tax collections increased for FY25, totalling ₹4,930 crore.
This marks an increase of over ₹1,000 crore compared to the ₹3,918 crore collected in FY24. Despite setting a target of ₹5,210 crore for FY25, BBMP achieved approximately 94.6% of this goal. In FY26, the municipal body plans to cross ₹6000 crore. BBMP said.
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Mahadevapura contributed the highest
Among the BBMP zones, Mahadevapura contributed the highest with ₹1,310 crore against a target of ₹1,309 crore, data from BBMP showed.
Yelahanka emerged as the top performer, collecting ₹464.66 crore against a target of ₹445.24 crore, achieving 104% of its goal.
In Bengaluru East, the body collected ₹834 crore against its target of ₹891 crore. Bengaluru South accounted for ₹733 crore against a target of ₹769 crore.
BBMP attributes this improved performance to enforcement measures, including the One-Time Settlement Scheme and actions against long-standing defaulters, such as property auctions, Munish Moudgil, special commissioner(Revenue), BBMP said in a statement.
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BBMP to consider reducing parking tax on residential properties
On April 14, the municipal body said it is considering reducing parking tax rates for residential properties amid backlash from Bengaluru residents. The civic body aimed to standardize and simplify the taxation system for parking spaces across the city.
“The proposal was notified as a draft and has not yet been implemented. However, as per citizen feedback, the parking tax for residential properties will be examined for further reduction by the government,” the municipal body said in a statement.
Previously, parking taxes were calculated based on zonal classifications, leading to disparities and higher charges for certain areas. Under the revised Unit Area Value (UAV) rates, the draft notification initially suggested that residential building owners would be charged 20% of the parking area at ₹2 per sq ft for 10 months, totalling ₹600 per month. The UAV will be charged 25% of the parking space area for non-residential areas for 10 months.
