June 5, 2023: The Navi Mumbai Municipal Corporation (NMMC), in its general body meeting on May 31, 2023, has decided to waive off property tax for flats up to 500 sqft, according to a Times Now report.
Over 1.5 lakh Navi Mumbai flat owners will benefit from this waiver. However, this will cost the NMMC Rs 100 crore annually.
This waiver will be applicable irrespective of the social status and income of the apartment owner. The state government has already waived off property tax for farmers, senior citizens and people with disabilities.
Other municipal bodies of the state are also expected to follow suit and waive property tax on flats up to 500 sqft.
In January 2022, the Brihanmumbai Municipal Corporation (BMC) announced a waiver of the MCGM property tax on residential units of up to 500 sqft located within the Mumbai municipal area limits.
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