Mumbai: The civic House handed a discover of movement (NoM) final Friday looking for to extend the exemption restrict for property taxes for residential items from 500sqft to 700sqft. BMC officers clarified that an NoM isn’t binding on the administration, and that the proposal shall be despatched to the civic administration for deliberation, following which it might be authorized, modified, referred to committees or merely famous.Currently, round 3.6 lakh properties in Mumbai are exempt from property tax as their carpet space is underneath 500sqft—a coverage carried out since 2022 by BMC following a state govt directive. Property tax is among the main income sources for the civic physique. In 2024-25, the BMC administration collected property taxes of Rs 6,198 crore.
The NoM was moved by Shiv Sena (UBT) corporator Yashodhar Phanse, who stated middle-class households rehabilitated via slum and chawl redevelopment schemes are discovering it more and more tough to bear property tax and upkeep prices. While such beneficiaries obtain houses freed from value, he stated recurring bills reminiscent of society upkeep, repairs, healthcare and schooling have made residing in Mumbai unaffordable, forcing many to promote their flats and transfer out of town. The NoM stated growing the exemption restrict is critical to make sure that “original Mumbaikars” are capable of proceed residing within the metropolis. A property tax waiver for residential items as much as 700 sqft was certainly one of Sena (UBT) and MNS’s key assurances made of their joint manifesto forward of the BMC elections. BJP’s former MP Manoj Kotak, who had moved an analogous proposal throughout his tenure as Mulund corporator in 2018, the NoM is redundant since his proposal continues to be pending with the state govt. He stated had been Sena (UBT) been severe concerning the subject, it ought to have secured approval when it headed the state govt.
