The Maharashtra Legislative Council on Monday unanimously passed a Bill to amend the Municipal Corporation Act to allow exemption in property tax to units up to 500 sq. ft. in size.
The Bill was earlier passed in the Lower House, where it was tabled by the government as part of the poll manifesto and assurances made by alliance partner Shiv Sena during the last local body elections in Mumbai.
Chief Minister Devendra Fadnavis said the waiver would benefit as many as 30 lakh properties in the city, including 15 lakh residential units.
He also said most of these smaller units were developed by the Maharashtra Housing and Area Development Authority and the Slum Rehabilitation Authority, and the Brihanmumbai Municipal Corporation was more than competent to handle the financial burden resulting from the exemption of this scale.
“We are encouraging other corporations to come forward with similar proposal, which if tabled will be approved by the legislature,” he said.