BMC okays property tax on homes up to 700 sq. ft.

BMC has passed a proposal to exempt houses in the city with carpet area up to 500 sq. ft. from property tax. If the state government approves the proposal then it will benefit over 14 lakh houses in the Mumbai. The proposal in this matter was represented by Shiv Sena in BMC’s council and was supported by all parties including the second largest BJP and the opposition Congress party.

During Brihanmumbai Municipal Corporation election earlier this year, Shiv Sena chief Uddhav Thackeray had made a promised that if Mumbaikar give mandate to Shiv Sena then the property tax will be completely waived off on apartments measuring up to 500 sq. ft.(carpet area). Along with this the BMC also passed a proposal for 60 per cent concession in property tax for houses measuring from 500 to 700 sq. ft.

Though the Shiv Sena and the BJP are sharing the government in Maharashtra, the parties had contested the BMC election 2017 separately. If the Sena’s proposal for exemption of property tax is approved by the civic commissioner and by the state government, then the owners of apartments with an area of up to 500 sq. ft. will be exempted from property tax with effect from 2015 to 2020.