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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Description : 1 Bhk Flat for rent in green hills chs kandivali east, good society with all modern amenities. Ten min from kandivali station.. , Address : near lokhandwala foundation school, Mumbai., ..
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Description : 1.5 bhk flat for rent in sierra tower with all modern amenities. Ten min drive from kandivali station.. , Address : Lokhandwala Complex, Kandivali East, Mumbai, Maharashtra, INDIA, Post..
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News and Stories related to Property Tax Mumbai

Posted On: Jan 30, 2015
home loan keeping in view the minimum number of days to be spent away from India. Properties for which difference when it comes to the properties on which home loan is available to NRIs. Like a residential property including an under construction property or resale as well as for self-construction on a residential plot of land anywhere property in India. Maximum Loan Available and
Posted On: Jan 23, 2015
a stir in the market calling for newer and developed residential properties for employees who plan commercial projects in Mumbai, Sangli and Kolhapur. In Nashik, the company is building Pandav Van
Posted On: Jan 23, 2015
million sq ft. at the CBD of Mumbai, Bandra Kurla Complex comprises of three residential projects locations in Mumbai, Navi Mumbai, 81 acres in
Posted On: Jan 22, 2015
of the BBMP which collects property tax from such property owners inspite of them not possessing an OC Bangalore Municipal Building Bye-law of 2003. Laws flouted As is known to property builders
Posted On: Jan 22, 2015
to South Mumbai, demand for commercial and residential properties went up, and housing prices in locations Five prominent infrastructure projects undertaken by the Mumbai Metropolitan Region Development Mumbai commutes and propelled real estate development in neighbouring areas. 1. Versova-Andheri-Ghatkopar Metro rail The Mumbai Metro Rail in North Central Mumbai. 2. Eastern Freeway The Mumbai

Apartment Projects for Property Tax Mumbai

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

Kanakia Sevens
Marol, Andheri East, Mumbai, Maharashtra, INDIA.




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