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Time of India
29-05-2025
- Business
- Time of India
Mumbai: BMC hikes property tax after decade, by up to 15%
MUMBAI : After almost a decade, BMC increased property tax rates by up to 15% in bills raised for over 9 lakh properties for 2025-26. The bills were raised this month, reports Richa Pinto. "There is a maximum 15% increase, but it could be less depending on the ready reckoner rate of that locality," said an official. RR rates determine property valuations for stamp duty and taxation. A civic official said the recent rise in RR rates was factored in while increasing the tax. However, around 3.6 lakh residential properties properties which measure under 500 sq ft (carpet area) remain exempted from property tax, as per a 2017 state directive. With BMC increasing property tax rates by up to 15%, a residential unit with a tax of Rs 10,000 will now have to pay Rs 11,500. Residents, however, argue that the hike is significantly higher in certain areas than the 15% figure claimed by BMC. A flat owner in Andheri West, who was billed 29,211 last year, has received a bill of 36,898 for 2025-26, an increase of nearly 26%. Similarly, a Bandra West resident said his property tax bill has jumped from around 1.10 lakh last year to 1.36 lakh this year, marking a 23% rise. The last hike in property taxes occurred in 2015-16. BMC was supposed to revise rates in 2020, as per the norm of a review every five years. However, due to the pandemic, the decision was stalled. Subsequent political developments in the state put the move on the backburner. In 2024, the corporation stated that 2025 would mark the completion of a full five-year cycle, making it a more appropriate time to revise rates. With govt increasing ready reckoner rates in March 2025 by an average 3.39%, thus impacting property valuations, the hike in taxes was seen coming soon. However, BMC has not revised its property tax collection target of 5,200 crore for 2025-26, despite the hike in rates, officials said. Impact of the increase is yet to be assessed, they said. Former Bandra West corporator Asif Zakaria said the hike was "alarming,", especially coming at a time when BMC has been functioning without elected representatives for the past three years. Zakaria said implementation of a new system based on the capital value of the property has still not been resolved for assessing property tax. "This is an issue that continues to burden Mumbaikars unjustly despite multiple clear directives from the courts. No corrective action has been taken, to amend new rules 20, 21, 22 as directed by the Supreme Court and High Court. This correction itself is expected to reduce property tax bills by 40% for 2010 onwards till 2024–25," he said. Mumbai North Central MP Varsha Gaikwad accused the BJP-led state govt of inflicting another financial blow on Mumbaikars – "a brutal 13-20% hike in property tax, in clear violation of Supreme Court directives." "Without revising the Capital Value rules – as ordered by the SC—and without reassessing taxpayers, the state-controlled BMC has started processing new property tax bills…,'' she added.
Time of India
28-05-2025
- Business
- Time of India
BMC hikes property tax after decade, by up to 15%
Mumbai: After almost a decade, BMC increased property tax rates by up to 15% in bills raised for over 9 lakh properties for 2025-26. The bills were raised this month, reports Richa Pinto. "There is a maximum 15% increase, but it could be less depending on the ready reckoner rate of that locality," said an official. RR rates determine property valuations for stamp duty and taxation. A civic official said the recent rise in RR rates was factored in while increasing the tax. However, around 3.6 lakh residential properties properties which measure under 500 sq ft (carpet area) remain exempted from property tax, as per a 2017 state directive. With BMC increasing property tax rates by up to 15%, a residential unit with a tax of Rs 10,000 will now have to pay Rs 11,500. Residents, however, argue that the hike is significantly higher in certain areas than the 15% figure claimed by BMC. A flat owner in Andheri West, who was billed 29,211 last year, has received a bill of 36,898 for 2025-26, an increase of nearly 26%. Similarly, a Bandra West resident said his property tax bill has jumped from around 1.10 lakh last year to 1.36 lakh this year, marking a 23% rise. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo The last hike in property taxes occurred in 2015-16. BMC was supposed to revise rates in 2020, as per the norm of a review every five years. However, due to the pandemic, the decision was stalled. Subsequent political developments in the state put the move on the backburner. In 2024, the corporation stated that 2025 would mark the completion of a full five-year cycle, making it a more appropriate time to revise rates. With govt increasing ready reckoner rates in March 2025 by an average 3.39%, thus impacting property valuations, the hike in taxes was seen coming soon. However, BMC has not revised its property tax collection target of 5,200 crore for 2025-26, despite the hike in rates, officials said. Impact of the increase is yet to be assessed, they said. Former Bandra West corporator Asif Zakaria said the hike was "alarming,", especially coming at a time when BMC has been functioning without elected representatives for the past three years. Zakaria said implementation of a new system based on the capital value of the property has still not been resolved for assessing property tax. "This is an issue that continues to burden Mumbaikars unjustly despite multiple clear directives from the courts. No corrective action has been taken, to amend new rules 20, 21, 22 as directed by the Supreme Court and High Court. This correction itself is expected to reduce property tax bills by 40% for 2010 onwards till 2024–25," he said. Mumbai North Central MP Varsha Gaikwad accused the BJP-led state govt of inflicting another financial blow on Mumbaikars – "a brutal 13-20% hike in property tax, in clear violation of Supreme Court directives." "Without revising the Capital Value rules – as ordered by the SC—and without reassessing taxpayers, the state-controlled BMC has started processing new property tax bills…,'' she added.
Time of India
25-05-2025
- Climate
- Time of India
Lake stock at nearly 16%, no water cuts amid +ve forecast
Mumbai: The total water stock in the seven lakes supplying to Mumbai was 2.27 lakh million litres on Sunday, amounting to 15.75% of the required water quantum. Last year on the same date the water stock was 1.4 lakh million litres, or 9.69% of the annual requirement. The civic body this year hasn't imposed a water cut for the city yet and said it is still monitoring the situation especially in wake of a positive monsoon outlook for the next few days. Last year, a 10% water cut was imposed on Mumbaikars from June 5 onwards due to insufficient water stock in the seven lakes. The cut was withdrawn on July 29, 2024 when water stock reached a satisfactory level. The Maharashtra government approved the release of additional water for Mumbai from the contingency reserves of the Bhatsa and Upper Vaitarna dams a few months ago. Mumbai draws its daily water from seven lakes -- Tansa, Bhatsa, Modak Sagar, Tulsi, Vihar, Upper Vaitarna, and Middle Vaitarna. During the monsoon, the catchment areas of these lakes get filled and their overall stock is equated to the actual water stock of Mumbai. The lakes are located on the outskirts of Mumbai and in districts like Thane and Nashik. Only two of the smallest lakes, Tulsi and Vihar, are located within the Sanjay Gandhi National Park (SGNP) in the city, and provide 1-2% of Mumbai's needs. The maximum amount, or over 50% of the city's daily water requirement, comes from Bhatsa. According to data sourced from RTI and the Mumbai Environmental Status Report which was released last week by the NGO Praja Foundation, Mumbai faced a 15% shortfall in meeting its water demand in 2024, with a supply of 3,975 MLD against the required 4,664 MLD. —Richa Pinto
Time of India
24-05-2025
- Climate
- Time of India
IMD scales down weather warning; says monsoon may arrive early
Mumbai: For Saturday, the India Meteorological Department (IMD) scaled down the weather warning for the Mumbai Metropolitan Region from an orange alert to a yellow alert. So, instead of heavy rainfall, Mumbai, Thane and Palghar can expect light to moderate showers, isolated thunderstorms with lightning, and gusty winds till Tuesday. Raigad district's red alert was also downgraded to orange. Friday's downgraded weather forecast follows intense pre-monsoon activity across the Konkan coast and indicates an early onset of the southwest monsoon for the city. Mumbai's official monsoon onset date is June 11. According to meteorological experts, the weather warning has been downgraded because the system remains too far south to significantly impact Mumbai's weather, leading to lesser rainfall activity than anticipated on Thursday when an orange alert was issued. However, a well-marked low-pressure area persisted over the east-central Arabian Sea off the south Konkan coast as of Friday 8.30am, and may intensify into a depression within 24 hours, they added. On Friday, no rainfall was recorded in the suburbs, while south Mumbai saw a modest 6.1mm. Relative humidity, however, has been very high owing to the prevailing weather conditions, with the Colaba and Santacruz observatories registering 94% and 88% humidity, respectively. Between March 1 and May 23, IMD's Colaba observatory has recorded 124mm rainfall and the Santacruz observatory 137.3mm, which were 115mm and 126mm above normal, respectively. — Richa Pinto Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
Time of India
08-05-2025
- Climate
- Time of India
At 22.2C, Colaba enjoys its coldest May day ever recorded as rain hits city
Mumbai: Mumbaikars woke up to an unusually chilly May morning on Thursday, with the Colaba weather station recording a minimum temperature of 22.2 Celsius, the lowest for the month ever logged at the observatory since record keeping began in 1881. The earlier record was 22.8 set on May 25, 1951, reports Richa Pinto. The Santacruz observatory logged 20.6, making it the second coldest May morning in over 40 22.2, the minimum logged at Colaba was 4.7 below normal, while Santacruz's 20.2 was 5.8 below temperatures in the city during May have usually ranged between 24 and 27 over the last 10 attributed the unseasonal chill to an unstable air mass lingering in the wake of a passing cold front, which is the boundary between warm and cold air masses. The temperature drops following the passage of the cold front, as Mumbai experienced Thursday. It marked the 3rd straight rainy day, with several areas seeing brief but intense day temperatures too dipped below normal in the city. On Thursday, the IMD's Colaba and Santacruz observatories recorded maximum temperatures of 31.9 and 32.6 degrees, respectively. While it was 1.5 degrees below normal at Colaba, it was near normal at Santacruz.A yellow alert was already in place, indicating thunderstorms accompanied by lightning, light to moderate rain, and gusty winds at isolated places. According to the IMD data, the 24-hour period between May 7 and 8 was Mumbai's second wettest May day in the past decade, with 32.1mm of rainfall recorded. IMD said the pre-monsoon showers were owing to a western disturbance system that led to the formation of a trough in the upper levels, which is tilting southwards, and there is a lot of moisture along this trough. This system resulted in heavy showers and gusty winds. The weather forecast for Mumbai, Thane, and Palghar for May 9 predicted very likely light rain. From May 10, dry weather conditions are very likely to the Colaba Observatory was established in 1826, systematic meteorological records that are considered continuous and official by the IMD began to be kept in 1881. This is the year from which IMD Colaba's weather data is typically cited for long-term climate trends in Mumbai.
