NMC passes resolution for property tax exemption up to 500 sq ft

The property tax committee of the Nagpur Municipal Corporation (NMC) has passed a resolution for the exemption of property tax for residential properties of up to 500 sq ft.

The plan was presented before the standing committee, followed by the general body and state government.

Mahendra Dhanvijay, a committee member, said that the government has decided to extend the benefit of properties in Mumbai. It will benefit the poor people, and the resolution should also be taken for the city.

CM Uddhav Thackeray announced that the Brihanmumbai Municipal Corporation (BMC) would exempt property tax of residential properties up to 500 sq ft. The urban development department of the state will implement the plan in April. Around 16.14 lakh houses are expected to get relief of Rs 426 crore from CM's decision.

After the decision, three legislators, including Vikas Thakre, Congress City President, Pravin Datke, Bharatiya Janata Party (BJP) City President and Krishna Khopde, Former City President BJP, urged the CM to extend relief to the entire state.

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Also read: Property tax waiver for homes less than 500 sq ft