India, April 24 -- The standing committee of the Pune Municipal Corporation (PMC) on Thursday approved a 50% rebate in property tax for women owning residential properties measuring up to 500 square feet. The civic body records show that around 70,773 properties are expected to benefit from the scheme.

The scheme will result in a revenue loss of nearly Rs.20 crore, officials said.

Standing committee chairman Shreenath Bhimale said the proposal was part of the budget announcements aimed at encouraging more property registrations in women's names.

"While presenting the budget, I had announced a 50% property tax rebate for women property owners. The objective is to encourage more citizens to register properties in women's names. As promis...