Property Tax : Builders to be held accountable?

Flat buyers are often kept in the dark about the property taxes due on their plot/flat at the time of possession.Only later do they realise that they have been shortchanged by the builder/developer when they are slapped Property Tax Due Certificate by the Municipal Corporation,which sometimes can be to the tune of a few lakhs

Published Tagged ,
Navi Mumbai Property tax bill
Mayur

Flat buyers are often kept in the dark about the property taxes due on their plot/flat at the time of possession. Only later do they realize that they have been shortchanged by the builder/developer when they are slapped Property Tax Due Certificate by the Municipal Corporation, which sometimes can be to the tune of a few lakhs!
It helps to remember that until the possession of the flat is handed over to the flat buyer, all taxes due on the flat/plot,are payable by whoever owns the flat/plot, which in most cases is the builder/developer. Often with the connivance of the Municipal corporations, the builder escaped payment of this tax. The Municipal corporation, which can easily make it mandatory for the builders to pay all liable taxes before handing over the Occupancy Certificate for the flat/building, happily chose to look the other way.
All this is set to change if the Minister for Urban Development, Mr.Bhaskar Jadhav, is to be believed.
According to the new rules proposed by the Minister..

Builders will have to pay property tax for 3 years at the time of issuance of the Commencement Certificate and if the construction is not complete at the end of 3 years, he will be liable to pay property tax for the next 3 years !

Recently, the Municipal corporation had issued notices for payment of pending property tax to more than 3.22 lakh flat owners across the city. After the opposition leader in the legislative assembly, Mr.Eknath Khadse, took up the issue, the govt changed its tune to revoke the property tax due certificate for recently completed buildings where Occupancy certificate has been issued recently but property tax has not yet been paid by the builder.

As an icing on the cake, the minister informed the house that Govt agencies like the MMRDA, SRA, Mhada along with the private builders, owed more than 10,000 crores in property tax !!

Just how and when these ideal solutions are implemented is anybody’s guess.

Courtesy : Times of India

CONTACT US

Get in touch

Sky Properties
Sector 19a, Nerul,
Navi Mumbai

Contact us

9987452642

Mail us at : mayur@navimumbairealestate.org

By Mayur

Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors. When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy. With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google. He can be reached on 9987452642

2 comments

  1. I HAVE PURCHASED A FLAT AT AIROLI SECTOR 8A IN 2004 AND UPTIL TILL NOW THE BUILDER HAS NOT GIVEN US THE CIDO TRANSFER PAPER FOR WHICH WE CANNOT SELL THE FLAT

    PLEASE GUIDE ME AS TO WHAT ACTION CAN BE TAKEN AGAINST THE BUILDER HE IS SIMPLY DENYING THAT HE WILL NOT GIVE THE PAPERS YOU HAVE TO GET IT DONE

    PLEASE ADVICE AND GUIDE ME

    1. If you builder is the land owner and you have made all payments to builder,you can file a case in the consumer court against him.Decision will be in your favour in 6-8 months.
      Good luck.

Leave a comment

Your email address will not be published. Required fields are marked *

WeCreativez WhatsApp Support
Send a whatsapp msg
👋 Hi, how can I help?