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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Articles related to Property Tax Mumbai

Posted On: Jul 28, 2015
Mira Road, part of Mira Bhayandar Municipal Corporation and the northern suburb of Mumbai, is one of the fastest growing real estate markets in Mumbai today. This is primarily due to its good connectivity to key Road area profile - Mira Road has excellent connectivity to different parts of Mumbai Metropolitan Region (MMR) such as Mumbai, Thane and Navi Mumbai. - Mira Road is connected to Mumbai via Western and Navi Mumbai via Ghodbunder Road. The area is also well connected to Mumbai via local trains
Posted On: Jul 27, 2015
payment of salaries 9) Revenues that are generated internally from the town/city via taxes, fees in capital works 13) Percentage contribution of tax revenue, user charges and fees, and other internal
Posted On: Jul 27, 2015
Mumbai will be one step closer to becoming a world city as the integrated transport system the Mumbai Metropolitan Region Development elevated rail and road corridor across Mumbai on single pillars above existing railway lines. The chief modes of transport, such as BEST buses, Monorail, Mumbai Metro and Railways, so that one can use in the state. The chief minister also officially launched the Rs 11,441 crore Mumbai Urban Transport Project
Posted On: Jul 26, 2015
on properties which they had held for just few months. During the recession itself, property markets plummeted , real estate market across the world became calmer. In a normal market scenario, property rates rise possible profit. Investors looking for the highest capital gains from their property investments should construction, rather than completed projects. The best time to invest in such properties is during the time of launch. Thereafter, while some experts feel that the best time to exit such properties is when
Posted On: Jul 26, 2015
that in this area of NCR. Although property prices here were always affordable, this market has seen the lowest



News and Stories related to Property Tax Mumbai

Posted On: Jul 28, 2015
Mira Road, part of Mira Bhayandar Municipal Corporation and the northern suburb of Mumbai, is one of the fastest growing real estate markets in Mumbai today. This is primarily due to its good connectivity to key Road area profile - Mira Road has excellent connectivity to different parts of Mumbai Metropolitan Region (MMR) such as Mumbai, Thane and Navi Mumbai. - Mira Road is connected to Mumbai via Western and Navi Mumbai via Ghodbunder Road. The area is also well connected to Mumbai via local trains
Posted On: Jul 27, 2015
payment of salaries 9) Revenues that are generated internally from the town/city via taxes, fees in capital works 13) Percentage contribution of tax revenue, user charges and fees, and other internal
Posted On: Jul 27, 2015
Mumbai will be one step closer to becoming a world city as the integrated transport system the Mumbai Metropolitan Region Development elevated rail and road corridor across Mumbai on single pillars above existing railway lines. The chief modes of transport, such as BEST buses, Monorail, Mumbai Metro and Railways, so that one can use in the state. The chief minister also officially launched the Rs 11,441 crore Mumbai Urban Transport Project
Posted On: Jul 26, 2015
on properties which they had held for just few months. During the recession itself, property markets plummeted , real estate market across the world became calmer. In a normal market scenario, property rates rise possible profit. Investors looking for the highest capital gains from their property investments should construction, rather than completed projects. The best time to invest in such properties is during the time of launch. Thereafter, while some experts feel that the best time to exit such properties is when
Posted On: Jul 26, 2015
that in this area of NCR. Although property prices here were always affordable, this market has seen the lowest

Apartment Projects for Property Tax Mumbai

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

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




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