Friday, 7 April 2017

Hurry! Only 6 Days for Responding to MCGM's Property Tax Valuation

Mumbai, 7th April 2017: The deadline date for housing societies of Mumbai to correct BMC capital valuation of their properties is fast approaching, and society managers and office-bearers have clearly been caught unawares. With less than one week left, property owners should act quickly in the next six days, or risk having to struggle with unduly high property tax rates for years to come.

Unknown to most Mumbaikars, MCGM issued a circular last month giving notice that the Capital Valuation for the forthcoming years has been completed for fixing up property tax applicable to property owners and that "they will be available for inspection at the office of the Asstt. Assessor and Collector in the respective wards… between 23rd March 2017 to 13th April 2017." It added that "complaints against the Capital Values... must be made in writing by the property owners themselves or by the persons duly authorized by them under a power of attorney."

BMC’s notice may be downloaded from this link: http://bit.ly/MCGM-Notice-23-3-2017

Sometimes, the assessment department makes mistakes in fixing the capital value, which results in huge disputed dues. If the window of opportunity given under the circular is not promptly availed, then property owners such as housing societies are left with the costly option of going to small causes court against excessive billing.

It is quite easy to verify the capital valuation from BMC’s website. Go to https://prcvs.mcgm.gov.in/ . There, enter the Property Tax Account Number and other details. 

Alternatively, go to your ward office with your last property tax bill, and verify whether the capital valuation has been made.
As it is difficult for Cooperative Housing Societies office-bearers to draft a proper complaint (in case mistakes in capital valuation are discovered), Andheri-based NGO Maharashtra Societies Welfare Association (MSWA) has created a downloadable format with the help of Property Tax Department insiders. Download this complaint format from http://bit.ly/BMC-Complaint-Form

In case, the capital valuation of their property is excessive, office-bearers of housing societies may download this useful format, fill it up and submit it before 13th April 2017. 

CA Ramesh Prabhu, chairman of MSWA, remarked, "It is unfair that only three weeks time is given to citizens for verifying the new capital valuations, on the basis of which lakhs of rupees are charged to more than 30,000 cooperative housing societies and other property owners. But we will do whatever we can to facilitate citizens of Mumbai to respond to this circular," he said. Mr  Prabhu appealed to office-bearers of housing societies to take the circular seriously, as the impact of wrong valuation be lakhs of rupees.
For further assistance in verification of capital valuation and filing of complaint, housing societies may contact MSWA's helpline number 022-42551414 and also Whatsapp no. 70455 99702.

ISSUED BY
Krishnaraj Rao
9821588114
krishr.mswa@gmail.com