No property tax for homes up to 500 sqft in Maharashtra: CM Uddhav Thackeray

This picture has been used for representational purpose

CM Uddhav Thackeray on Saturday announced waiving full property tax for homes up to 500 sqft in Mumbai. It is one of the promises that the Shiv Sena had made in its manifesto during the last BMC election in 2017.

Though in March 2019, the then BJP-Shiv Sena government had approved amending the Property Tax Act to effect the waiver, the GR in 2019 only amended section 140 (C) of the Act, which caters to the general tax component.

The CM made the announcement during a virtual meeting on Saturday, and asked the urban development department that it be implemented immediately.

There are 16,40,000 houses measuring less than 500 sqft, which contribute Rs 462 crore property tax. "Three acts need to be modified to give complete waiver in property tax," said IS Chahal, municipal commissioner of Mumbai. Principal Secretary (Urban Development II) Mahesh Pathak said the rule will be implemented from April 2022.