Properties for sale at public auction

Aurangabad, December 4:

After the municipal corporation of Mumbai, Pune and Nagpur, the municipal corporation of Aurangabad (AMC) will now be able to auction the properties of citizens who do not pay property tax. The company will have the right to confiscate the property and auction it off in a public auction.

About 70 percent of citizens do not pay property tax. As the company had no legal right to take action against defaulters, debts reached Rs 600 crore. Administrator Astik Kumar Pandey has started to take concrete steps to improve AMC’s financial situation. The company has approved the rules and regulations authorizing the sale of the property under the Municipal Company Law, Article 466, subsection (1) subparagraph (B). A resolution in this regard was adopted on December 1. In accordance with the regulations, a list of properties confiscated for the collection of property tax arrears will be prepared and approved by the administrator. An advertisement will then be published in the newspapers. Ownership of the property auctioned will be subject to government regulations.

At least two bidders needed

At least two bidders must be present on the day of the auction. If there is no bidder, the auction will be canceled. Offers made in a sealed envelope will also be counted as final offers. A video of the auction process will be produced and kept for one year. The ownership transfer process will be implemented after the auction. The method of determining the base price has also been decided. Rules have also been set for the distribution of the amount received from the auction.

All questions have been studied very carefully

In recent months, the process of confiscation at various municipal corporations across the state has been studied. All legal and regulatory issues have also been studied very carefully. With the new regulations in place, it will be easier to confiscate and auction properties with unpaid taxes. It will also increase revenue collection, said Aparna Thethe, municipal deputy commissioner.

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