April 1, 2024: The assessment and collection department of the Brihanmumbai Municipal Corporation (BMC) has issued a notice to contractors working on the Mumbai Metro rail project for failing to pay property tax amounting to over Rs 370 crore. The BMC stated that since Metro construction activities are ongoing at various locations, the contractors are responsible for paying property tax for the casting yard plot.
However, there have been delays reported in the payment. Notices have been served to companies including HCC – MMC, CEC – ITD, Doga Soma and L&T. In March 2022, the BMC had seized 24 properties of Mumbai Metro One, including Azad Nagar, Versova, and DN Nagar metro stations, due to non-payment of property tax since the commencement of operations.
The BMC has managed to collect Rs 2,213 crore in property tax so far, out of its target of Rs 4,500 crore for the fiscal year 2023-24. Property tax stands as the second-highest revenue source for the municipal corporation. The BMC is prioritising the recovery of pending property tax. It has issued notices to several contractors involved in the Mumbai Metro Rail project and has publicly disclosed the names of contractors who are yet to fulfil their property tax obligations for the casting yard.
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
Email: dhwani.meharchandani@housing.com
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