New Budget has come and new property tax plan is also out. Before buying and property first understand what tax you have to pay. Godrej property is coming with new project at Navi Mumbai. Visit: mumbaiproperty022@gmail.com

1. Looking To Pay Property Tax In Mumbai
Property tax is a certain amount of fund collected in the form of tax for the government by the
municipal corporation from the property owners with in the jurisdiction of that specific
corporation. The amount collected will be used for the developing of that jurisdiction such as the
maintenance of roads, provision of civic amenities like the street lights, proper roads, drainage
system, parks and curbing the crime rate. This tax is imposed on half-annual or annual basis
which is to be paid to the municipal corporation however, the amount of tax to be imposed varies
from one location to the other location. ​Godrej Kharghar | Retreat Kharghar, an upcoming
residential project in Navi Mumbai is for the inhabitants of in and around Navi Mumbai and
Mumbai. Lets know the process to pay the Property Tax and enjoy the ownership of your dream
house Godrej Kharghar.

2. ​Stage government taking initiatives on the levied property tax, BMC (BrihanmumbaiMumcipal
Corporation) passed a proposal on July 7th,2017 to exempt the impose property tax on the
houses which has a carpet area of 500 sq. ft. It has also proposed 60 per cent concession for those
houses with the dimensions from 500 sq. ft to 700 sq. ft. Chief Minister of the state also
supportively said aboud the eradication of property tax. Initially, this will be applicable only for
the houses which falls under the jurisdiction of BMC.
Godrej Kharghar

3. Quickie to the calculation of property tax
​
The calculation of property ta include few parameters and they are the location of the property,
the occupancy status (occupied by self or tenant), property type, amenities provided, year of
construction took place, type of the construction, the Floor Space Index and the Carpet Area. The
capital value of the property can be obtained with the following formula. Capital Value= Present
market value of the property ​X ​the total carpet area ​X ​weight for the construction type ​X ​weight
for the age of building.

4. In the formula, the mentioned weight for the construction type and weight for the age of the
property has its own units. 1 unit for bungalows and RCC construction, 060 units for the
structures other than RCC and 0.50 units for the under-construction or the vacant land. Weights
for the age of property can be given as 0.80 units for those properties developed before 1945.
0.90 units for those properties developed between 1945 and 1985. 1 unit for those properties
developed after 1985. With the inclusion of these factors, the above formula can be used for the
calculation of the property tax. The process of the payment of property tax in Mumbai via online
transaction is also given below.
Godrej Kharghar Location
​After logging into the municipal corporation of Mumbai, www.mcgm.gov.in, click on the
property tax tab on the left column, it will be directed to a new page where Property Account
Number to log in. If the individual doesn’t have the account number, go through the search
option and enter your precise Ward Number and property address to obtain the PAN. Once the
page opens, enter the Property Account Number redirecting to a new page where the pending
dues will also be popping up. The pending dues can also be paid through the gateway of payment
and the payment receipt generates.

5. Thus, the above are the formulas and steps to pay the Property Tax in Mumbai. Follow it
precisely and enjoy the ownership of your house; ​Godrej Kharghar Residential Apartment with
all the possible installations and is surefire returnable.
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