September 1, 2023: To generate more revenue, the Mira-Bhayandar Municipal Corporation (MBMC) plans to hike property taxes on leased commercial properties. The new ruling is under the MBMC’s 2018 resolution in accordance to rule 7 under chapter VIII of the Maharashtra Municipal Corporations Act-1949, where commercial properties that are let on rent will be taxed 20% of the annual rental amount or Rs 10 per sqft, whichever is higher. Note that the municipal body couldn’t implement the resolution for the last five years.
Notices have already been sent to owners of the commercial properties in the MBMC jurisdiction that are on rent. Additionally, the IGR Maharashtra has also been asked to provide data regarding the commercial properties falling under this rule.
According to the 15th Finance Commission, the MBMC will lose on getting grants from the commission, if there is not recorded at least 20-25% increase in property tax as compared to the previous year.
MBMC property tax can be paid online on https://pg.mbmc.gov.in/
You can search by property no. or owner name.
Enter property number, owner name, choose the Prabhag Samiti and click on search to get details about property tax to be paid.
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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
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