MCGM Real Estate Tax Your Guide To Paying BMC Property Tax In Mumbai

HomeownersarerequiredtopayMCGMpropertytaxonayearlybasis.Theamountof propertytaxes,however,fluctuatesdependingonwhereyoulive.Thisisamanualfor payingMumbaipropertytaxes.

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The MCGM property tax is what?

ApersonwhoownspropertyintheMumbaiMetropolitanRegionmustpayMCGM propertytax(MMR).ThestategovernmentofMumbaideterminespropertytaxbasedon thevaluationoftheproperty.TheBrihanmumbaiMunicipalCorporation(BMC)isentitled toreceiveannualpropertytaxpaymentsfromownersofresidentialpropertiesinMumbai. TheycanusetheMCGMpropertytaxwebsitetopaytheirpropertytaxesonlineinMumbai. Duetothepandemic'sconsequences,theMaharashtrastategovernmenthasdecideda thirdtimetorefrainfromraisingtheMCGMpropertytax.Thishasledtoachangein section154(1D)oftheBMCAct.TheMCGMpropertytaxwasexpectedtoberevisedby between10and18%beginningonApril1ofthenextfiscalyear2022 23.Duetothe pandemic,themostrecentmodification,whichwasintendedtotakeplacein2020,wasnot completed.

TheMumbaiMunicipalCorporationActspecifiesthatthepropertytaxisupdatedeveryfive years.Propertytaxoncapitalbaseunderwentitsmostrecentadjustmentin2015.As MCGMpropertytaxisoneofthefixedearningsforBMC,itispossiblethatBMCmayadopt anincreaseinMCGMpropertytaxstartingthisyearforaperiodofthreeyears.Even thoughBMCpredictedthatitwouldcollectRs7,000croreinpropertytaxin2021 2022,it hasonlybeenabletocollectaboutRs4,800croresofar,evenaftertakingintoaccounta 15%modificationtoBMCpropertytax.Thisisaresultofthestandingcommitteerejecting theincreaseandapropertytaxexemptionforpropertiesupto500squarefeet.

TheMaharashtracabinetacceptedthestategovernment'sdecisiontowaivepropertytax onhomesinMumbaithatareupto500squarefeetonJanuary12,2022,inaccordance withaBMCpropertytaxcircular.UddhavThackeray,thechiefministerofMaharashtra, statedonJanuary1,2022,thatresidentialunitsupto500squarefeetinsizelocatedwithin theboundariesoftheMumbaimunicipalareawouldbeexemptfromMCGMpropertytax, effectiveimmediately.

The16.14lakhresidentialunitswillgainfromthisaction.TheexchequerwillloseRs462 croresinrevenueasaresultofthepropertytaxremissionforMCGM.AccordingtotheBMC circularonpropertytax,theMCGMwillsufferalossofRs417croreswhilethestate governmentwillberesponsiblefortheremainingRs45croredeficits.Inordertoprevent peoplefromsufferingafinancialsetbackbecausetotheongoingepidemic,theMumbai propertytaxhasbeenwaived.

Previously,onlythegeneraltaxportionoftheMCGMpropertytax(MunicipalCorporation ofGreaterMumbai)wasexempt;asofrightnow,allpropertiesupto500squarefeetare exempt.DuetotheCOVID 19epidemicandlockdown,theBMCpredictedthattheMCGM propertytaxcollectionwouldtotalRs6,738crorein2020 2021butwasonlyableto collectRs4,500crore.Residentialpropertieswithcarpetareasbetween501and700 squarefeetwillhavetheirBMCpropertytaxratesreducedby60%.Youcanutilisethe MCGMpropertytaxwebsite,theBMCmobileapp,ortheBMCwebsitetopayBMCproperty taxonlineinMumbai.HereisinformationonhowtousetheMCGMwebsitetopayMumbai propertytaxesonline:

How do I access my Mumbai property tax bill on the MCGM website?

Followtheinstructionsbelowtoexamineyouroutstandingdebtsandpropertytaxbill onlineinMumbai.

Step 1: GototheMGCMportalatportal.mcgm.gov.inpropertytax,inputyour property/accountnumber,andpayyourpropertytaxinMumbai.

Step2: EntertheCaptchainsteptwo.YouwillreceiveanOTPonyourregisteredmobile number,whichyoumustinputinordertoproceedtothepaymentofyourMumbai propertytax.TheMCGMwebsitewilllinkyoutoyouraccount,whereyoumayexamineall ofyourunpaidandpaidpropertytaxMumbaiinvoices.

MCGM property tax: Online payment of Mumbai property taxes

PropertytaxMCGMcanbepaidatanyofthewardoffices'CitizenFacilitationCenters,BMC HelpCenters,orOfficeoftheAssistantRevenueOfficer.

UsingtheMCGMportalatportal.mcgm.gov.in,youmayalsopayMumbaipropertytax online.

Step 1: TopaytheMCGMpropertytaxonlineortheBMCpropertytaxonline,enteryour accountnumberontheMCGMwebsiteafterclickingtheaforementionedlink.

Step 2: YoucaneithercheckanyunpaidMCGMpropertytaxbillshereorpaytheMCGM propertytaxrightnowonline.

Step 3: AfterpayingyourMCGMpropertytaxesonline,besuretostoreyourreceiptforthe transactionsafely.Thisiscrucialasconfirmationofownershipofyourpropertyaswellas paymentoftheMCGMpropertytax.

Step 4: VerifythattheMCGMportalchangesyourinformationandthatyouraccountdoes nothaveanyoutstandingbalances.Ifthereareanymistakes,havethemfixedrightaway.

How to compute the MCGM property tax online?

TheCapitalValueSystemisusedtodeterminetheBMCpropertytax(CVS).ThisCVSis basedontheproperty'smarketvalue.

Step 1: NavigatetotheMumbaipropertytaxcalculatorontheMCGMwebsite.

Step 2: CompletethenecessaryinformationonthepropertytaxcalculatorMumbaionthe MCGMportal,includingthewardnumber,floor,buildingtype,carpetarea,zone,user category,taxcode,yearofconstruction,FSIfactor, subzone,usersub category,andother information.

Step 3: Usethepropertytaxcalculator&click"Calculate"toacquireathoroughBMC propertytaxbill.FormulaforMCGMpropertytaxes

Calculating capital value is done as follows:

Marketpriceofthepropertymultipliedbytheamountofcarpeting,weightedbythe building'sageandconstructiontype.TheReadyReckonercanbeusedtodeterminethe marketvalue(RR).TheRRiscompiledofthefairmarketvaluepricingforpropertiesandis setbythestategovernment.Youmustdeterminewhichwardorzoneyourpropertyis locatedin.

Unit weights for "construction type":

RCCconstructionandbungalows:oneitem.

RCC(semi permanent/chawls) 0.60units,apart.

0.50unitsofunder constructionorundevelopedproperty.

Unit weights for "age of building":

0.80unitsforhomesbuiltbefore1945.

0.90unitsofrealestatebuiltbetween1945and1985.

Buildingsbuiltafter1985:1unit.

ThefollowingformulaisusedtodetermineMumbaipropertytaxonceyouhave determinedthecapitalvalue:

Unit weights for the "user category":

Hotelsandrelatedestablishments:4units.

Threeunitsofcommercialbuildings(storesandoffices).

2unitsarefactoriesandindustries.

Institutionsforhousingandcharitablework 1unit.

How can I get my BMC property tax bill through email for the MCGM property tax?

PropertytaxesIfMumbaitaxpayerscompletetheKnowYourCustomer(KYC)formonline ontheMCGMportal;theywouldreceivetheirBMCpropertytaxbillintheiremail.Oncethe citizenshavefinishedtheKYCprocedures,allnotices,alerts,&taxbillswillbesenttothe registeredemailaddress.Toavoidfinesforlatepropertytaxpayments,thecityauthority hasaskedalltaxpayerstocompletetheirKYCassoonaspossible.

ToobtainaMumbaipropertytaxbill,completetheKYCprocessontheMCGMpropertytax portalasfollows:

Step 1: VisittheMCGMCitizenPortalandinputthepropertyaccountnumberasthefirst step.

Step 2: OntheMCGMwebsite,entertheCaptchaandclick"login."

Step 3: SubmittheattestedcopytogetherwiththenecessarydocumentationviatheMCGM website.

Step 4: EntertheemailaddressandothercontactinformationtosignupforemailandSMS propertytaxalertsfromMCGM.

Step 5: Afterapproval,you'llreceiveaconfirmationemail.

Due date for MCGM property taxes

Eachyear,theMCGMpropertytaxisduebyJune3ora2%penaltywillbeappliedtothe unpaidbalance. MCGM property tax renaming

IfyouwanttochangeyournameontheMCGMpropertytaxrecords,youcanfollowthe stepsabove,accordingtotheBMCcircularonpropertytax.Itshouldbenotedthatsince thechangeofnamewillbebasedonthesharecertificateorthesaledeed,thereisno requirementforapropertycardintheMCGMpropertytaxrecords.TheMCGMproperty taxdepartmentdoesnotlevyanyfeesfornamechangesinrecords.

Whenfinished,clickDetailunder"ViewDetail"tochecktherecordsonthe https://ptaxportal.mcgm.gov.in/CitizenPortal/#/changeBillNamewebsite.

MCGM Property Tax: Citizen Search Procedures

TheBMChasdeployedtheAutoDCR,anonlineplatform,tomaketheprocessofreviewing buildingproposalsandprovidingpermissionseasier.TheMCGMwebsitealsomakesit possibletogenerateandusetransferofdevelopmentrights(TDR)viaanonlineprocedure, makingitsimpleforarchitectstosubmittheirapplications.

ThroughtheMCGMwebsite,theMunicipalCorporationofGreaterMumbai(MCGM) providesaccessforcitizenstosearchforandaccessinformationaboutallapplications submittedtothecorporation,aswellastocheckthestatusofthefile.

The steps to use this online service are as follows:

ThroughtheMCGMAutoDCRlinkat https://autodcr.mcgm.gov.in/bpamsclient2/Login.aspx,citizenscanusetheMCGMCitizen Search.

Applicantsshouldinputthefilenumberaswellasotherinformation,suchasthe applicant'sname,thenameofthearchitect/LS,thezonename,thewardname,theplot number,theCTSnumber,thevillage,theroad,etc.,tocheckforthestatusoftheir application.

OntheMCGMwebsite,applicantswillbeabletoviewthefile'scurrentstatusalongwith zoneandwardinformation.

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