Chandigarh, June 21 -- In a significant boost to its revenue, the Chandigarh municipal corporation (MC) has collected Rs.62 crore in property tax in just two-and-a-half months - from April 1 to June 20. The amount, collected from nearly 70,000 assesses, has already exceeded last year's total annual collection of Rs.60 crore (including arrears) for the entire fiscal year 2024-25.

Of the Rs.62 crore collected so far, Rs.26.17 crore has been contributed by residential property owners and Rs.35.42 crore by commercial properties. This marks a substantial increase compared to the Rs.38.59 crore collected during the same period last year.

The surge in revenue is being attributed to the steep revision in property tax rates implemented this fisc...