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February 4, 2022

BMC presents Rs 45,949 crore budget; no property tax for flats measuring up to 500 sq ft

by CA Shivam Jaiswal in Compliance Law

BMC presents Rs 45,949 crore budget; no property tax for flats measuring up to 500 sq ft

The Brihanmumbai Municipal Corporation (BMC), the richest civic body in the country, on Thursday presented a budget of Rs 45,949.21 crore for the year 2022-23, ahead of the civic elections. The budget estimates are 17.70 per cent more than the last fiscal, when the BMC had presented Rs 39,038.83 crore budget.

The civic body announced 100 per cent relief from payment of property tax for the flats measuring up to 500 square feet of carpet area. “About 16,14,000 citizens will get 100 per cent property tax relief. The amount of exemption to citizens is to the tune of Rs. 462 crore per annum,” Mumbai municipal commissioner Iqbal Singh Chahal said in his budget speech.

On January 1, Chief Minister Uddhav Thackeray had announced a decision to waive the property tax for the residential units of up to 500 square feet, located within the Mumbai municipal area limits.

The decision will benefit owners of over 16 lakh houses below 500 sq feet in Brihanmumbai Municipal Corporation (BMC) limits.

Other major announcements made by BMC in the Budget:

  1. Now taxpayers can make payment of Property Tax Bill & Water Tax Bill through Bharat Bill Payment System (BBPS).
  2. The estimated Revenue Income for the financial year 2022-23 is proposed to Rs. 30743.61 crore which is Rs. 2932.04 crore more than Budget Estimates of 2021-22.
  3. BMC has started the process of empanelment of Urban Space Designers who would study and rework on the roads, foot paths and community spaces to increase the ‘Ease of Walking’
  4. BMC has decided to allow private & govt. undertakings Co. to install Public Electric Vehicle Charging Station (PEVCS) in BMC’s PPL.
  5. A plan to provide preventive & primary treatment facility to citizens close to their residence is in the works, reducing load of patients on major & peripheral hospitals. Total 100 health care centres will be set up in BMC area.
  6. The Goregaon – Mulund link road (GMLR) is fourth major link, connecting the eastern suburbs and the western suburbs, being implemented in four phases.
  7. The health infrastructure outlay has been increased this year tremendously to Rs. 6933 crore.
  8. BMC has decided to set up the Mumbai Parking Authority (MPA) and appointed agency for supplying external manpower of private professionals from Transport, Urban Planners & Designers, Policy researchers, Experts and GIS technicians for the said work.
  9. In a step towards providing citizens easy access to its services, BMC has launched a Whatsapp Chatbot under no. 8999-22-8999. This will facilitate easy access to about 80 services of BMC.

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