Mumbai Property Tax Rises by 15% on Average; Flats Under 500 Sq Ft Remain Exempt

Unknown Apr 02, 2026 1,000 Views

BMC has raised property tax by 15% for the financial year 2025–26, which is the first revision in almost a decade. The increase comes due to the ready reckoner rate hike, which is used to estimate property values for taxation. Flats smaller than 500 sq ft are still exempt, following the res...