BBMP extends OTS scheme for government buildings in Karnataka

The BBMP has extended its One-Time Settlement (OTS) scheme for government buildings and public sector undertakings until March 31, 2025. This allows them to clear property tax dues at revised rates, paying only the principal amount and a small penalty. Previously, the BBMP planned to issue recovery notices for unpaid service charges from major government buildings. The OTS scheme now offers a chance for these entities to settle outstanding dues without incurring additional interest. Many government institutions have not paid service charges since 2008, leading to significant accumulated debts. The OTS aims to alleviate this financial burden before stricter measures, like double taxation, take effect in April 2025.