No hike in property tax in Mumbai till Covid-19 situation improves. Details here

There will be no hike in Property tax in Mumbai till the Covid situation continues: Mayor Kishori Pednekar (iStock)Premium
There will be no hike in Property tax in Mumbai till the Covid situation continues: Mayor Kishori Pednekar (iStock)
 1 min read . Updated: 20 Jun 2021, 07:53 AM IST Livemint

It was expected that the property owners in Mumbai may have to shell out a higher tax this year

There is some good news for Mumbaikars. Mayor Kishori Pednekar today said that there will be no hike in property tax in Mumbai till the Covid-19 situation improves. “There will be no hike in Property tax in Mumbai till the Covid situation continues. We don’t know how long it will take but till then we will not burden Mumbaikars by increasing the property tax," ANI quoted Mumbai Mayor Kishori.

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Earlier, it was expected that the property owners in Mumbai may have to shell out a higher tax this year.

In its maiden budget in March 2020, the MVA government in Maharashtra announced tax some tax concession proposals. This included a 1 per cent stamp duty concession for the next two years and other related charges applicable on registration of documents in the areas falling under the Mumbai Metropolitan Region Development Authority (MMRDA) and municipal corporations of Pune, Pimpri-Chinchwad and Nagpur.

Amid the pandemic, the state government had decided to reduce stamp duty on flats from 5% to 2% till 31 December 2020 and to 3% up to 31 March 2021.

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