Property Tax Mumbai

Property Tax Mumbai works on the Mumbai Provincial Municipal Corporation Act, 1949. In Mumbai city the owners need to file property tax returns annually. The property tax return form will ask for detailed information on the size of the property, its location, age of building etc. The Municipal Corporation of Greater Mumbai also known as Brihanmumbai Municipal Corporation (BMC) has its official website on property tax and is one of the richest corporation in India.

 

The property tax in Mumbai which was introduced in 1982 based on the rateable value system will change and New system will be based on capital value. It will be introduced in phases across the city. In the new capital value system, the value (a percentage of which will be the property tax) will be based on the actual property value. The figure will be mostly based on the stamp duty Ready Reckoner which the government brings out every year. Once the market value is decided, this market value will remain constant for 5 years.


The Mumbai city is divided into wards and property tax rates are fixed ward-wise by Mumbai Municipal Corporation.Bombay Municipal Corporation (BMC) Act is used to calculate property tax. According to this, property tax is calculated on the basis of the rent the property is likely to earn. Last year, the state government had issued an ordinance to facilitate the implementation of the capital value-based system for computing property tax. In the new capital value system, the value (a percentage of which will be the property tax) will be based on the actual value of the property. The figure will mostly be based on the stamp duty Ready Reckoner.

 

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Realestate Listings for Property Tax Mumbai

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Description : A 2BHK Flat is available for Sale in B-103, Eleganta, Casa Bella, Dombivili (East), Mumbai Beyond Thane, Mumbai. , House : 103, Address : B-103, Eleganta, Casa Bella, Dombivili (East),..
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Articles related to Property Tax Mumbai

Posted On: Oct 16, 2014
for the authorities. It is also suprising to note that the property taxes continue to fall short of its targets year and citizens can reach out to them more than ever before. Use technology to collect taxes, fees
Posted On: Oct 16, 2014
Traditionally, property sales see an upsurge during the festive season, which commences from auspicious. After all, most Indians tend to link property acquisition with auspicious dates levels in the property market increase substantially during this period. This year, the industry -NCR , Bengaluru and Mumbai accounted for 27 per cent, 25 and 15 per cent respectively. The nascent research firm shows that the Mumbai Metropolitan Region had an inventory of 53 months at the end of June
Posted On: Oct 16, 2014
The Government of Karnataka announced a proposed revision to the guidance value of properties in Bangalore for the fiscal year 2014-15 on 15th October this year. As per the proposed revision, property registered under this guidance value. The income tax department uses this guidance value to calculate capital gains tax. The guidance value is decided by a committee formed by the Inspector General reflect the actual market value of properties in the area, as the market value may be higher or lower than
Posted On: Oct 16, 2014
household and anything beyond that gets taxed. Electricity: The state buys power from Maharastra public transport as much as the other cities like Mumbai and Chennai where public transport
Posted On: Oct 16, 2014
Navi Mumbai is an important region of the Mumbai Metropolitan Region (MMR), planned by the City in the eastern trans-harbour of Mumbai. created 14 nodes/townships in Navi Mumbai. There are also new nodes currently being developed Mumbai, while the Thane-Belapur Road connects several nodes of the region to Thane. Several other roads have been developed over the years in Navi Mumbai, thus significantly improving its connectivity



News and Stories related to Property Tax Mumbai

Posted On: Oct 16, 2014
for the authorities. It is also suprising to note that the property taxes continue to fall short of its targets year and citizens can reach out to them more than ever before. Use technology to collect taxes, fees
Posted On: Oct 16, 2014
Traditionally, property sales see an upsurge during the festive season, which commences from auspicious. After all, most Indians tend to link property acquisition with auspicious dates levels in the property market increase substantially during this period. This year, the industry -NCR , Bengaluru and Mumbai accounted for 27 per cent, 25 and 15 per cent respectively. The nascent research firm shows that the Mumbai Metropolitan Region had an inventory of 53 months at the end of June
Posted On: Oct 16, 2014
The Government of Karnataka announced a proposed revision to the guidance value of properties in Bangalore for the fiscal year 2014-15 on 15th October this year. As per the proposed revision, property registered under this guidance value. The income tax department uses this guidance value to calculate capital gains tax. The guidance value is decided by a committee formed by the Inspector General reflect the actual market value of properties in the area, as the market value may be higher or lower than
Posted On: Oct 16, 2014
household and anything beyond that gets taxed. Electricity: The state buys power from Maharastra public transport as much as the other cities like Mumbai and Chennai where public transport
Posted On: Oct 16, 2014
Navi Mumbai is an important region of the Mumbai Metropolitan Region (MMR), planned by the City in the eastern trans-harbour of Mumbai. created 14 nodes/townships in Navi Mumbai. There are also new nodes currently being developed Mumbai, while the Thane-Belapur Road connects several nodes of the region to Thane. Several other roads have been developed over the years in Navi Mumbai, thus significantly improving its connectivity

Apartment Projects for Property Tax Mumbai

Sheth Auris Serenity
Link Road, Malad West, Mumbai-400064, Maharashtra, INDIA.

Kanakia Sevens
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