The Bruhat Bengaluru Mahanagara Palike (BBMP) has introduced a 5% discount for property owners who settle their full property tax for the fiscal year 2025–26 by April 30.
The municipal authority has issued a notification encouraging residents to take advantage of this rebate, aiming to promote timely compliance and enhance its revenue stream. This announcement follows a relatively successful fiscal year for BBMP in 2024–25, during which it garnered Rs 4,930 crore in property tax, marking a 25% increase from the previous year’s collection of Rs 3,918 crore.
Despite this growth, the BBMP fell slightly short of its revenue target, achieving 94% of its goal. For the upcoming fiscal year 2025–26, BBMP aims to collect Rs 6,000 crore in property tax. Data indicates that Yelahanka and Mahadevapura surpassed their annual property tax targets last year.
Notably, Yelahanka emerged as an unexpected leader, collecting Rs 464 crore against a target of Rs 445 crore. Mahadevapura, recognized as the city’s most profitable area for commercial real estate and IT development, also performed well, collecting Rs 1,310 crore, just exceeding its target of Rs 1,309 crore. This area alone contributed over 26% of the total property tax revenue for the city.
