Want to pay your property tax in 2019

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. Suggested Topic: https://homebuyersultimatesolutions.wordpress.com/2019/01/16/navi-mumbai-to-provide-state-of-the-art-r esidential-spaces/ http://upcoming-project-mumbai.weebly.com/blog/mumbai-city-is-having-a-huge-water-shortage-problem- save-water https://realestatenewindia.blogspot.com/2019/01/what-is-so-special-about-godrej.html