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BMC registers record-breaking property tax collection of Rs 6,378 crore
Updated On: 01 April, 2025 09:41 PM IST | Mumbai | Sameer Surve
In the beginning of the financial year, the BMC had set a target to collect Rs 4,950 crore as property tax. The amount was later revised to Rs 6,200 crore. In the previous financial year (2023-24), the total property tax collection amounted to just Rs 3,195 crore till March 31, 2024
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The highest revenue — Rs 624.50 crore — has been collected from G-South Ward which covers the Worli and Prabhadevi areas. File pic
The Brihanmumbai Municipal Corporation (BMC) has registered a record-breaking property tax collection of Rs 6,378 crore against its revised target of Rs 6,200 crore in the financial year 2024-25. This collection is the highest since 2010, despite the BMC implementing zero property tax on residences up to 500 square feet.
Meanwhile, the civic corporation is also contemplating to reduce fines for the delay in tax payments from 2 per cent to 1 per cent per month.
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