Latest Answer: The proposed tax system will lead to a huge disparity between the suburbs and South Mumbai, considering residents in both regions get the same service from the municipal corporation. Also, the high property taxes for redeveloped buildings will hurt the city's redevelopment market, forcing people to move outside the city.
Latest Answer: Around 81 % of the properties in Mumbai remain unaffected from the recent hike in property tax. Also, with the new capital value-based property tax system in place, many are unhappy regarding the same and many plan to contest in High Court.
Further, for 27% of the residential properties in Mumbai, the tax bills have already been reduced as compared to the old rateable value-based system.
