Now Reading: LMC OTS scheme covers 2.24 lakh houses, aims Rs 776 crore
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LMC OTS scheme covers 2.24 lakh houses, aims Rs 776 crore
Over 2.24 lakh houses in Lucknow are eligible for the Lucknow Municipal Corporation's (LMC) one-time settlement (OTS) scheme for property tax arrears. The civic body aims to recover Rs 776 crore in…
Over 2.24 lakh houses in Lucknow are eligible for the Lucknow Municipal Corporation's (LMC) one-time settlement (OTS) scheme for property tax arrears. The civic body aims to recover Rs 776 crore in total dues, comprising Rs 497.42 crore in principal arrears and Rs 278.59 crore in accumulated interest, from these properties. The scheme runs from August 15 to December 15.
Zone 6 has the highest number of unpaid properties at 59,663, followed by Zone 3 with 39,088 and Zone 8 with 32,759. Zone 1 has the highest arrear demand at Rs 98.65 crore and the highest interest burden at Rs 72.90 crore. Municipal commissioner Gaurav Kumar said the scheme offers relief on interest and surcharge for eligible owners, while helping LMC convert pending demand into actual revenue.
Indian Opinion Analysis
Lucknow's OTS scheme mirrors similar amnesties that Indian municipal corporations use to clear old arrears, but the scale here is notable: over 2.24 lakh defaulters represent roughly a third of the city's assessed properties. The Rs 776 crore in dues is nearly 15% of LMC's annual budget. Past OTS schemes in other cities have recovered 30-50% of enrolled arrears, meaning LMC may realistically collect Rs 230-390 crore. The December 15 deadline is crucial: if the scheme fails to meet targets, LMC may have to escalate to property attachment or sealing. Watch for monthly collection figures after the scheme opens.
Source: hindustantimes.com
This story was synthesised by AI from the source linked above.
