NAREDCO in News
 
Media Room
 
Industry News
 
Articles
 
National Realty e-Magazine
 

Industry News

Select a year 


JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember                Back

 
Mumbai: Not paid property tax yet? You cannot sell or transfer it now
The Times of India  |  February 04, 2019

Richa Pinto Mumbai

Property tax defaulters in the city will now not be able to sell, transfer or take a loan against the property. Brihanmumbai Municipal Corporation (BMC) had sent them several reminder notices and disconnected services for not paying the tax.

 

Earlier this week, its assessment and collection department created a charge on property tax cards of defaulting premises. Civic officials said the first charge on property card of a defaulter for a vacant plot in Deonar.

 

Officials said they approached the district superintendent of land records and a request was made to the city survey officer of Ghatkopar division, as Deonar falls under it. With this, any financial transaction, such as purchase, sale, transfer and borrowing against property will be unlawful. “Deonar Industrial Premises Co-Op Society owes the civic body Rs 2.18 crore as property taxes. Despite repeated notices, they failed to make the payment, so the assessment and collection department of M/East ward executed the warrant of attachment and sought to create a charge on the property card,” said assistant municipal commissioner (assessment and collection department) Devidas Kshirsagar.

 

Civic officials said they had to take this step as the total outstanding is Rs 13,000 crore. Kshirsagar said out of this, Rs 3,500 is recoverable, which means it is not stuck in any legal dispute.

 

“The remaining Rs 9,500 crore will be a challenge for us to recover. Similar action is proposed against other defaulters,” he said.

 

BMC’s property tax collection till January-end for the existing financial year has picked up. Officials said that till January 31, 2019, the property tax collected has been Rs 3,495 crore, while last year, in the same period, the amount was Rs 3,457 crore.

 

BMC had set a target of Rs 5,400 crore for collection of property tax for the year. Officials said extra efforts would be needed to meet the target.