Property tax concessions encourage green initiatives in Pune housing societies

While 74,360 societies and individuals received tax concessions in 2018-19, the number has risen to 111,069 in 2022-2023, according to official data

With the Pune Municipal Corporation (PMC) introducing property tax concessions for housing societies implementing green initiatives such as vermicomposting-, solar- and rainwater harvesting- plants, the number of such societies has increased significantly over the last three years. While 74,360 societies and individuals received tax concessions in 2018-19, the number has risen to 111,069 in 2022-2023, according to official data.

Climate change and its impact are affecting us adversely. To reduce the impact of climate change, scientists have suggested taking various steps in the form of sustainable development goals (SDGs). (REPRESENTATIVE PHOTO)

Climate change and its impact are affecting us adversely. To reduce the impact of climate change, scientists have suggested taking various steps in the form of sustainable development goals (SDGs). Different countries have been asked to take appropriate action to meet these SDGs. Accordingly, an action plan has been prepared at the national, state and district levels. The PMC is also taking various steps to achieve these goals. One such measure is encouraging citizens to implement projects that help reduce the carbon footprint of the city. As such, the PMC has introduced tax concessions to encourage people to implement solar-, rainwater harvesting and vermicomposting plants.

Mangesh Dighe, environment officer of the PMC, said that the civic body has come up with the idea of incentivisation for citizens so that they are encouraged to implement such green projects. “Hence, we have provided concessions to the citizens in terms of property tax. Those who are implementing one project are given a 5% concession, while those implementing more than two such projects are given a 10% tax benefit,” he said.

As part of its promotion of electric vehicles (EVs), the government has made it mandatory for new societies to reserve some space in their parking lots for EVs. These initiatives are beneficial in terms of energy efficiency, water conservation, and waste management. They ultimately help reduce carbon emissions, said Dighe.