Dear Expert
What is the Current Property tax rate for Mumbai, Kurla
Thanks and Regards
Prem Krishanan ( Legal) 02 January 2012
Dear Expert
What is the Current Property tax rate for Mumbai, Kurla
Thanks and Regards
sandeep gangwar (AUDITOR) 02 January 2012
Under the capital value system, the property tax is based on the actual value of the property, unlike the rateable value system, under which the tax is calculated on the basis of the maximum rent a property can fetch. The value of the property, on the other hand, is based on the stamp duty Ready Reckoner, which the government revises every year. This value is then multiplied with the current property tax rate.
The rate is changeable and changes with every new budget each year. Moreover, there are weights for construction category, users’ category, and age category. These weights should be multiplied with the capital value and the property tax rate to calculate the property tax in Mumbai.
To simplify the calculation of Mumbai property tax, you can use a calculator based on the capital value system. You can even use a simple calculator to get the amount of your tax. Here is the formula that will help you do so. First multiply the market value of your property with the total carpet area and the applicable weights for type of construction and age of premise. This will give you the capital value of your property, which can then be multiplied with the current property tax rate and the appropriate weight for user category. The product will be the property tax due on you for the year concerned.
Pls tell the property tax for what..? buying , selling
click on the website sa per your requirment u can find out the tax.
sandeep gangwar (AUDITOR) 02 January 2012
Property tax rate for selling, buying, rent, lease or what..?
Prem Krishanan ( Legal) 02 January 2012
Dear Sandeep
Its for rent/Lease in Kurla
Regards
Ad. Meena (Sr. Lawyer) 15 October 2013
The new tax would be calculated on the basis of the current market value of the property (the capital value) based on price, area, age, and the type of property. Currently, Mumbaikars are charged according to the rental value of their property; in other words, property tax is calculated on the basis of the hypothetical rent it would fetch.
Please find the Lawyers those who can handle tax related matters in Mumbai
Regards
Meena
shagdeep (employee) 24 October 2013
Hello,
Residences (with metered water connection):0.41% of capital value
Offices:1.95% of capital value.
Banks:3.91% of capital value.
Illegal buildings (without OC or water connection):8.44% of capital value.
rizwan adil 12 February 2021
Hello, Trust your doing well. I am looking to ask a very simplified question here. I belong to an Asian country that is Pakistan and I am working with well-known builders and developers in Islamabad. They assigned me task that is quiet related to tax and reimbursements. I am stuck with this issue. As I don't find any solution to this. Any one here with relevant experience please share your views about this.
Looking forward to hear from you.
Warm regards