MCGM real estate tax Your guide to paying BMC property tax in Mumbai
Homeowners are require to pay MCGM property tax on a yearly basis. The amount of property taxes, however, fluctuates depending on where you live. This is a manual for paying Mumbai property taxes.
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The MCGM property tax is what?
A person who owns property in the Mumbai Metropolitan Region must pay MCGM property tax (MMR). The state government of Mumbai determines property tax based on the valuation of the property.
Until February 10, 2023, the MCGM property tax system won’t be operational.
Due to server upgrade activity, the property tax system used by the Brihanmumbai Municipal Corporation (BMC) or MCGM, which can be accessed at https://ptaxportal.mcgm.gov.in, will be inaccessible from February 3, 2023, at 12:01 am to February 10, 2023, at 11:59 pm.
Property tax in MCGM: Key information
The Brihanmumbai Municipal Corporation (BMC) is entitle to receive annual property tax payments from owners of residential properties in Mumbai. They can use the MCGM property tax website to pay their property taxes online in Mumbai. Due to the pandemic’s consequences, the Maharashtra state government has decided a third time to refrain from raising the MCGM property tax. This has led to a change in section 154 (1D) of the BMC Act.
According to a ToI data, Mumbai currently collects over Rs 3,859 crore in property taxes. With barely two months remaining in the fiscal year, the MCGM has only been able to collect 55% of the property tax, against a target of Rs 7000 crore for Mumbai’s collection of property taxes in 2022–2023. However, patterns indicate that the final two months of the fiscal year saw an increase in property tax receipts. The MCGM property tax was expect to be revise by between 10 and 18% beginning on April 1 of the next fiscal year 2022–23. Due to the pandemic, the most recent modification, which was intend to take place in 2020, was not completed.
The Mumbai Municipal Corporation Act specifies that the property tax is update every five years. Property tax on capital base underwent its most recent adjustment in 2015. As MCGM property tax is one of the fixed earnings for BMC, it is possible that BMC may adopt an increase in MCGM property tax starting this year for a period of three years. The amount of taxes collected in 2021–2022 was Rs 5,792 billion. This is a result of the standing committee rejecting the increase and a property tax exemption for properties up to 500 square feet.
Property tax in MCGM
The Maharashtra cabinet accepted the state government’s decision to waive property tax on homes in Mumbai that are up to 500 square feet on January 12, 2022, in accordance with a BMC property tax circular. Uddhav Thackeray, the chief minister of Maharashtra, stated on January 1, 2022, that residential units up to 500 square feet in size located within the boundaries of the Mumbai municipal area would be exempt from MCGM property tax, effective immediately.
The 16.14 lakh residential units will gain from this action. The exchequer will lose Rs 462 crores in revenue as a result of the property tax remission for MCGM. According to the BMC circular on property tax, the MCGM will suffer a loss of Rs 417 crores while the state government will be responsible for the remaining Rs 45 crore deficit. In order to prevent people from suffering a financial setback because to the ongoing epidemic, the Mumbai property tax has been waived. All properties up to 500 square feet are currently exempt from the MCGM property tax, which was formerly solely exempt for the general tax part of the tax (Municipal Corporation of Greater Mumbai).
Due to the COVID-19 epidemic and lockdown, the BMC predicted that the MCGM property tax collection would total Rs 6,738 crore in 2020–2021 but was only able to collect Rs 4,500 crore. Residential properties with carpet areas between 501 and 700 square feet will have their BMC property tax rates reduced by 60%. You can utilise the MCGM property tax website, the BMC mobile app, or the BMC website to pay BMC property tax online in Mumbai. Here is information on how to use the MCGM website to pay Mumbai property taxes online:
How do I access my Mumbai property tax bill on the MCGM website?
Follow the instructions below to examine your outstanding debts and property tax bill online in Mumbai.
Step 1: Pay your property tax in Mumbai by visiting the MGCM portal at portal.mcgm.gov.in and entering your account number or property number.
Step 2: Enter the captcha in step two. You will receive an OTP on your registered mobile number, which you must input in order to proceed to the payment of your Mumbai property tax.
The MCGM website will link you to your account, where you may examine all of your unpaid and paid property tax Mumbai invoices.
MCGM property tax: Online payment of Mumbai property taxes
Property tax MCGM can be paid at any of the ward offices’ Citizen Facilitation Centers, BMC Help Centers, or Office of the Assistant Revenue Officer. Using the MCGM portal at portal.mcgm.gov.in, you may also pay Mumbai property tax online.
Step 1: To pay the MCGM property tax online or the BMC property tax online, enter your account number on the MCGM website after clicking the aforementioned link.
Step 2: You can either check any unpaid MCGM property tax bills here or pay the MCGM property tax right now online.
Step 3: After paying your MCGM property taxes online, be sure to store your receipt for the transaction safely. This is crucial as confirmation of ownership of your property as well as payment of the MCGM property tax.
Step 4: Verify that the MCGM portal changes your information and that your account does not have any outstanding balances. If there are any mistakes, have them fixed right away.
How to compute the MCGM property tax online?
The Capital Value System is use to determine the BMC property tax (CVS). This CVS is based on the property’s market value.
Step 1: Navigate to the Mumbai property tax calculator on the MCGM website.
Step 2: Complete the necessary information on the property tax calculator Mumbai on the MCGM portal, including the ward number, floor, building type, carpet area, user category, zone, year of construction, tax code, FSI factor, sub zone, user sub-category, and other information.
Step 3: Use the property tax calculator & click “Calculate” to acquire a thorough BMC property tax bill. Formula for MCGM property taxes
Calculating capital value is done as follows:
Market price of the property multiplied by the amount of carpeting, weighted by the building’s age and construction type.
The Ready Reckoner can be use to determine the market value (RR). The RR is compiled of the fair market value pricing for properties and is set by the state government. You must determine which ward or zone your property is located in.
Unit weights for “construction type”:
- RCC construction and bungalows: one item.
- RCC (semi-permanent/chawls) – 0.60 units, apart.
- 50 units of under-construction or undeveloped property.
Unit weights for “age of building”:
- 80 units for homes built before 1945.
- 90 units of real estate built between 1945 and 1985.
- Buildings built after 1985: 1 unit.
The following formula is used to determine Mumbai property tax once you have determined the capital value:
Weighted by the user category and the capital value of the property,
Unit weights for the “user category”:
- Hotels and related establishments: 4 units.
- Three units of commercial buildings (stores and offices).
- 2 units are factories and industries.
- Institutions for housing and charitable work – 1 unit.
How can I get my BMC property tax bill through email for the MCGM property tax?
Property taxes If Mumbai taxpayers complete the Know Your Customer (KYC) form online on the MCGM portal. They would receive their BMC property tax bill in their email. Once the citizens have finish the KYC procedures, all notices, alerts, and tax bills will be sent to the register email address. To avoid fines for late property tax payments. The city authority has asked all tax payers to complete their KYC as soon as possible.
To obtain a Mumbai property tax bill, complete the KYC process on the MCGM property tax portal as follows:
Step 1: Visit the MCGM Citizen Portal and input the property account number as the first step.
Step 2: On the MCGM website, enter the captcha and click “login.”
Step 3: Submit the attested copy together with the necessary documentation via the MCGM website.
Step 4: Enter the email address and other contact information to sign up for email and SMS property tax alerts from MCGM.
Step 5: After approval, you’ll receive a confirmation email.
Due date for MCGM property taxes
Each year, the MCGM property tax is due by June 3 or a 2% penalty will be applied to the unpaid balance.
MCGM property tax renaming
If you want to change your name on the MCGM property tax records. You can follow the steps above, according to the BMC circular on property tax. It should be noted that since the change of name will be based on the share certificate or the sale deed. There is no requirement for a property card in the MCGM property tax records. The MCGM property tax department does not levy any fees for name changes in records.
When finished, click Detail under “View Detail” to check the records on the https://ptaxportal.mcgm.gov.in/CitizenPortal/#/changeBillName website.
MCGM Property Tax: Citizen Search Procedures
The BMC has deployed the AutoDCR, an online platform. To make the process of reviewing building proposals and providing permissions easier. The MCGM website also makes it possible to generate and use transfer of development rights (TDR) via an online procedure. Making it simple for architects to submit their applications.
Through the MCGM website, the Municipal Corporation of Greater Mumbai (MCGM) provides access for citizens to search for and access information about all applications submitted to the corporation, as well as to check the status of the file.
The steps to use this online service are as follows:
Through the MCGM AutoDCR link at https://autodcr.mcgm.gov.in/bpamsclient2/Login.aspx, citizens can use the MCGM Citizen Search.
Applicants should input the file number and other information, such as the applicant’s name, the name of the architect/LS, the zone name, the ward name, the plot number, the CTS number, the village, the road, etc., to check for the status of their application.
On the MCGM website, applicants will be able to view the file’s current status along with zone and ward information.
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