No property tax hike in Mumbai

This will save Mumbai property owners from an additional burden of around Rs 736 crore.

February 6, 2024: The Maharashtra cabinet on February 5, 2024 announced that there will be no property tax hike in Mumbai city.

According to media reports, a proposal to maintain status quo on the property tax was moved by the urban development department and cleared at a weekly cabinet meeting chaired by chief minister Eknath Shinde.

With this move, Mumbaikars would be saved from an additional burden of Rs 736 crore, mentioned media reports.

Note that in December 2023, the BMC had issued property tax bills for FY 20-23-24 that had an increased amount of 15-20% of the bill. The BMC had withdrawn the bills and had informed of sending the revised invoice by January 2024. The invoices are yet to be sent by the BMC.

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Anuradha Ramamirtham

With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: anuradha.ramamirtham@housing.com