Property tax in Mumbai

Q: How are the citizens of Mumbai responding to the property tax bills which have been received recently? What is being done? I am completely against it. Do you also feel so??

Abhijit Thanki, Mumbai

6th February 2013

Property Tax in Mumbai

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Replies (8)

How to calculate property tax (Capital value-based system)?

Abhishke Karule, Mumbai

23rd August 2013

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Capital value = Base value x Built up area x Use category x Type of building x Age factor x Floor factor Property tax once fixed, will not be revised for five years and after that the increase will be restricted to 40% Residential units with greater than 500 sqft carpet area will pay twice the old tax or tax calculated by new system residential units with less than 500 sqft carpet area will pay taxes as per old system. You can check the website http:// cvs.mcgm.gov.in:7001/MCGM_CVS/

Ravi Waghmare, Mumbai

24th August 2013

The BMC has changed to the capital value based system, that calculates property taxes depending on present market value of the property. The civic body now plans to make the payment of property tax bills online too.

Ramesk Polekar, Mumbai

23rd August 2013

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What is capital value? Does capital value depend on stamp duty?

Abhijit Thanki, Mumbai

23rd August 2013

Capital value is the market value of property at a specific time. It depends on the stamp duty which the government revises every year. Category-wise capital values can change like age, user and construction. The categories have different weights and these are used while calculating capital value

Ravi Waghmare, Mumbai

23rd August 2013

According to sources, In this system one can verify facts with calculations made online and check if they are correct. The property tax bill issued by the BMC last month has details of the carpet area, age and type of property. If you notice that details in the bill and those in the tax calculator do not match, you can call up the ward office and after that mistakes can be rectified. You can see outstanding bills and calculate their property tax too

Praveen Modi, Mumbai

23rd August 2013

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Further The tax calculator system also shows you how property should be assessed. The parameters that will be used to arrive at the capital value based system to compute property tax: Name of ward, zone, sub-zone , occupancy type (self-occupied or tenements protected under Maharashtra Rent Control Act), user main category (land, residential, commercial, industrial ), user sub-category (air-conditioning , bungalow, bank, car parking on stilts, clubhouse, coaching class, departmental store, clinic, dispensary ), date of effect, floor, floor sub-type (loft, attic, mezzanine ), year of construction, nature and type of building (luxurious, RCC, pucca building or kuccha structure), age of building, tax code, floor space index (FSI), metered or unmetered, carpet area in square metres

Praveen Modi, Mumbai

23rd August 2013

Good news for Mumbaikars!!!! The Brihanmumbai Municipal Corporation (BMC) has introduced an online calculator to compute property taxes.

Vineet Tendulkar, Mumbai

23rd August 2013

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Recently BMC has uploaded the system which will help citizens compute property taxes using the right formula and ready-reckoner rates.

Sankalp, Mumbai

23rd August 2013

Already, the faulty calculation and not taking into account the base price is being contested in an Aurangabad court. Residents who are not happy with the civic body’s reasoning may move to the High Court.
Advanced Locality Management and Networking Action Committee (ALMANAC), Chembur have said that they will move court with the help of residents of Marol. They feel paying an extra amount as tax is totally unacceptable.
Also, the citizens feel that the civic body is taking builders’ side and the whole system is not rational.

Lalit Verma, Mumbai

11th February 2013

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How to calculate the property tax for Mumbai properties?

Abhijit Thanki, Mumbai

23rd August 2013

The citizens feel that the base value which BMC has considered to calculate capital value of a property is faulty. It is linked to the ready-reckoner rate which is decided by the state government’s town planning department.
The process of deciding a ready-reckoner includes clubbing of 400-500 types of plots and are given a uniform rate. The price of a property in Mumbai is dependent on factors like type of construction, facilities and amenities, surroundings (proximity to airport, railway tracks) and noise pollution.

Padma G, Mumbai

11th February 2013

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The new method of calculating tax and the transition was aimed at reforming the current municipal tax system, due to which a major cause for concern has risen.
Furthermore, the senior citizens are even concerned about the receipt of huge property tax bills with retrospective effect from April 2010.

Bikram, Mumbai

11th February 2013

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Unconvinced with the new way of calculating property tax, citizens in Mumbai are planning to move to Bombay High Court regarding the same. The new method is based on the capital value-based system.
The major concern of the residents lies with the ground realities which affects a property’s price, are not taken into consideration in the ready-reckoner rates. They claim it is where the major fault in the system lies.

Rakshit, Mumbai

11th February 2013

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