Latest Answer: Hi Joseph,
In this matter you must consult with a property lawyer. He will give you the right idea of the property tax and whether the building is legal or illegal. Nobody can help you better than a property expert.
Latest Answer: Hi,
Method for fixing rateable value and calculation of property tax as under (Residential):- 50 sq-mtr RH type tenament in Nerul Node
50 sq-mtr. @Rs. 20/sq-mtr. per month. Estimated monthly rent Rs. 1000
Annual Estimated Rent comes to 1000*12=Rs.12000
Less:- 10% Statutory Deduction:- Rs. 1200
Rateable Value (Residence):- Rs.10800
And Annual Property Tax @ 38.67% on Rs. 10800 comes to Rs. 4176.