Ready Reckoner rates on BMC website now
Brihanmumbai Municipal Corporations (BMC) has finally listened to the citizens’ woes. The civic body has taken steps to make the new property tax system transparent to the public.
To start with, Stamp duty Ready Reckoner (SDRR) rates are now displayed on the official website of the civic body. The RR rates form the base value of a property.
RR rates of a property in Mumbai is the base value of a property along with age of the building, floor and the built-up area of the building and so on. These are taken into account while calculating the capital value based property tax.
This initiative will help the citizens in verifying the base value of their properties. In case of any errors or mistakes, they can also send in objections. The new move will now help citizens to verify weightage attached to all the physical attributes of their properties.
Also, a separate link has been created on the website to help the citizens gain information on the new tax system. This move was taken as the activists recently had demanded clarity on property tax bill after the BMC had started sending out the same.
However, the residents in South Mumbai have raised doubts over the new initiative over a long run, when tax rates are revised in 2015. These residents are the worst hit with the new property tax system.
As per South Mumbai Residents’ Association, taxes have doubled for some residents. With this, it will become difficult to live in a city like Mumbai by 2020.
Also, Maharashtra Government had decided to raise ready reckoner (RR) rates in Mumbai by 30% in first week of January, 2013. This is an excess hike compared to last year’s average increase of 12%.
The increase in ready reckoner rates is going to affect properties in areas like Prabhadevi, Cuffe Parade and Worli.
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