Ready Reckoner - Market Value of Properties | Stamp Duty | Registration | E-Stamping - Real Estate in India
 

Mumbai Municipal Corporation Property Tax on Capital Value System

(Applicable W.E.F. 01-01-2013 to 31-12-2013, for valuation of properties completed in the year 2013)


Rates of Property Taxes for Different User Categories

Tax CategoryCategory 1Category 2Category 3Category 4Category 5
Tax Rates per annum on capital value0.316%0.575%0.718%1.148%2.296 %

Note :    Apart from the property tax there are state education cess, employment guarantee cess, repair cess and tax on buildings (with larger residential premises) i.e. flats of more than 125 Sq.Mtr. which BMC collects on behalf of government. These taxes will be extra as applicable.


Different user categories of land and building by owner or tenant

Base Value as per Stamp Duty Ready Reckoner and  Market Value of  Properties in Mumbai 2013

Sr.No.Open landFactors on Base Value Tax CategoryRate of Tax
1.Airport land : (a) Land  used  for  movement  and  parking  of  aircraft  includingRunway  and  taxying  bay1.25Category 30.718 %
1.Airport land : (b) Any land other than land covered by entry (a)1.00Category 30.718 %
2.Amusement park1.25Category 30.718 %
3.Golf course1.25Category 30.718 %
4.Land around weighbridge1.25Category 30.718 %
5.Land of open air theatre0.10Category 30.718 %
6.Land of stadium where no tickets are sold for entry0.10Category 30.718 %
7.Land of stadium where tickets are sold for entry1.00Category 30.718 %
8.Land of petrol pump / service station / LPG, CNG station / kerosenestation, Land used for storage tank.1.25Category 30.718 %
9.Open air electric substation.1.25Category 30.718 %
10.Open Land - Commercial.1.25Category 30.718 %
10.Open Land - Industrial.1.10Category 30.718 %
10.Open Land - Residential.1.00Category 20.575 %
10.Open Land - Land of cessed building collapsed or demolished.0.30Category 20.575 %
11.Open land under reservation - Partial impermissibility (School, Petrol Pump, Hospital etc.).0.10Category 20.575 %
11.Open land under reservation - Total impermissibility (D.P.Rd., Play Grnd, Burial Grnd., etc.).0.01Category 20.575 %
12.Open land under reservation - Quarry.1.25Category 10.316 %
13.Racecourse - Land occupied by racing track.1.25Category 30.718 %
13.Racecourse - Land other than the land of racing track.0.01Category 20.575 %
14.Salt pan.0.01Category 10.316 %
15.Water reservoir.0.01Category 20.575 %

Sr.No.ResidentialFactors on Base Value Tax CategoryRate of Tax
1.Room, or flat, or apartment, or tenement and the like1.00Category 10.316 %
2.Bungalow, Penthouse, Row house, Duplex flat / apartment1.25Category 10.316 %
3.Religious  buildings1.00Category 10.206 %
4.Residential  house  occupied  by  protected  tenant0.75Category 10.316 %
4.Open terrace in exclusive possession0.10Category 10.316 %
4.Mezzanine floor0.70Category 10.316 %
4.Attic floor0.50Category 10.316 %
4.Dry balcony and niches0.25Category 10.316 %
4.Car park in stilt, or basement, or podium or Enclosed garage0.25Category 10.316 %
4. Clubhouse, Gymnasium, Health Club and any other amenity inco-operative housing society used by its members1.00Category 10.316 %
4.Society office0.10Category 10.316 %
4.Swimming pool1.00Category 10.316 %
4.Porch, Refuse Area, Air-conditioning plant room, Air handling room, Structure for an effluent treatment plant and watchman cabin.0.25Category 10.316 %
4.Entrance Lobby Lounge and service floor1.00Category 10.316 %

Sr.No.Shop / CommercialFactors on Base Value Tax CategoryRate of Tax
1.Shop1.00Category 20.575 %
2.Departmental store and shopping center1.10Category 20.575 %
3.Mall1.25Category 41.148 %
4.Office1.00Category 41.148 %
5.Bank1.20Category 52.296 %
6.Automatic Teller Machine Center and Money Changing Center1.20Category 52.296 %
7.Co-operative credit society1.00Category 20.575 %
8.Non-banking financial institution1.20Category 52.296 %
9.Stock exchange1.20Category 52.296 %
10. Securities Exchange Board of India 1.20Category 52.296 %
11.Asset management co and trustee company of Mutual Fund1.20Category 52.296 %
12.Commodity exchange1.20Category 52.296 %
13.Life and non-life insurance corporation or company1.20Category 52.296 %
14.Educational institution0.70Category 10.316 %
15.Coaching class1.00Category 20.575 %
16.Nursery, kids' corner, play group0.70Category 20.575 %
16.Nursery, kids' corner, play group0.70Category 20.575 %
17.Super speciality hospital1.20Category 20.575 %
18.Hospital, Nursing home, Dispensary, clinic & pathologicallaboratory1.00Category 20.575 %
19.Hotel - five star and above1.25Category 41.148 %
20.Hotel up to four star and service apartment1.10Category 41.148 %
21.Hotel without star1.00Category 20.575 %
16.Nursery, kids' corner, play group0.70Category 20.575 %
22.Restaurant with bar1.10Category 20.575 %
23.Club house, etc. (excluding the one in co-operative housing societyused b its members)1.00Category 20.575 %
24.Cinema hall / theatre / drama theatre1.00Category 41.148 %
25.Multiplex1.25Category 41.148 %
26.Film shooting studio1.00Category 20.575 %
27.Mangal karyalaya / hall / community hall / convention hall / partyhall, etc. (air-conditioned)1.20Category 41.148 %
28.Mangal karyalaya / hall / community hall / convention hall / partyhall, etc. (non-air-conditioned)1.10Category 41.148 %
29.Open air theatre - stage and other structures0.30Category 41.148 %
30.Private health club, gymnasium1.00Category 20.575 %
31.Swimming pool (where entry fee or membership fee is charged)1.00Category 20.575 %
32.Tiers of seats for spectators in a stadium where tickets are sold0.60Category 30.718 %
33.Tiers of seats for spectators in a stadium where no tickets are sold0.06Category 30.718 %
34.Airport buildings1.10Category 41.148 %
35.Passenger terminal at airport1.10Category 10.316 %
36.Hangar and workshop at airport1.10Category 10.316 %
37.Special car parking structure (with or without mechanical lift)1.00Category 20.575 %
38.Stable0.80Category 20.575 %
39.Godown / storage / warehouse1.00Category 20.575 %
40.Advertisement hoarding1.00Category 41.148 %
41.Tower for radio, television, mobile, electricity etc.1.00Category 52.296 %
42.Structures ancillary to petrol pump or service station or LPG orCNG station or kerosene station1.00Category 30.718 %
43.Weighbridge1.00Category 41.148 %
44.Electric sub-station of a commercial building0.80Category 20.575 %
45.Electric sub-station of a residential building0.10Category 20.575 %
46.Premises occupied by protected tenant0.75As applicableAs applicable
47.Capacity of Storage Tank above ground level @ Rs.40 per litre.Capacity of Storage Tank below ground level @ Rs.50 per litre.(Capital Value of storage tank = Va lue of land + Capacity of Tank)1.00As applicableAs applicable
47.Open terrace in exclusive possession0.40As applicableAs applicable
47.Mezzanine floor0.70As applicableAs applicable
47.Loft and Attic floor0.50As applicableAs applicable
47.Society office0.25Category 20.575 %
47.Car parking in stilt / basement / odium / Enclosed garage0.25Category 20.575 %
47.Watchman cabin, Porch, Refuse area, Air-conditioning plantroom, Air handling room, Structure for an effluent treatmentplant.0.25As applicableAs applicable
47.Entrance Lobby Lounge and service floor1.00As applicableAs applicable

Sr.No.IndustrialFactors on Base Value Tax CategoryRate of Tax
1.Industrial Estate / Factory including refine / Workshop1.25Category 20.575 %
2.Service industrial estate1.05Category 20.575 %
2.Open terrace in exclusive possession0.40Category 20.575 %
2.Mezzanine Floor0.70Category 20.575 %
2.Loft and Attic Floor0.50Category 20.575 %
2.Car parking in stilt /basement /odium /Enclosed garage0.25Category 20.575 %
2.Society Office, Watchman Cabin, Porch, Refuse Area, Air - conditioning plant room, Air handling room, Structure for Effluent0.50Category 20.575 %

Example - A new building of 100 flats of 50 sq. mtrs. built-up each, having base rate of Rs.2,50,000 per sq. mtrs.


Detail of Property.Area Sq. MtrsArea Factor Taxable Area Sq. Mtrs.
Exclusive area of flat (built-up area)
Area of flat on 3 floor501.0050.00
Open terrace200.102.00
Mezanine floor100.707.00
D balcony and nitches60.251.50
Exclusive area of flat (built-up area)60.50

Total Common area of building (Assumed).Proportionate Area Area Factor Taxable Area Sq. Mtrs.
Car parking in stilt, basement or podium etc 1500 Sq. Mtrs.150.253.75
**Club house, gymnasium and health club 300 Sq. Mtrs.31.003.00
Society office 30 Sq. Mtrs.0.30.100.03
"Swimming pool 100 Sq. Mtrs.11.001.00
Porch, refuse area etc. 300 Sq. Mtrs.30.250.75
Entrance lobby 50 Sq. Mtrs.0.51.000.50
Total common area for R.C.C. Building (B)9.03
Total common area for Luxurious R.C.C. Building (C)5.03


Taxable area for R.C.C. Building with Weightage 1 = (A) +(B) = 60.5 + 9.03 = 69.53 Sq. mtrs.


Taxable area for Luxurious R.C.C. Bldg. with Weightage 1.2 = (A) +(C) = 60.5 + 5.03 = 65.53 Sq. mtrs.


Property Tax = Taxable Area x Base Rate x Factor on base value x Floor Factor x Rate of Tax


Property Tax for R.C.C. Building = 69.53 x 250000 x 1 x 1 x 0.316%    = Rs. 54,928.70 per year. Equivalent to Rs.4577.39 per month. Equivalent to Rs. 8.51 per month per sq ft of built up area


Property Tax for Luxurious R.C.C. Building = 65.53 x 250000 x 1.2 x 1 x 0.316% = Rs. 62,122.44 per year. Equivalent to Rs.5,176.87 per month. Equivalent to Rs. 9.62 per month per sq ft of built up area.



Notes:

1.Common area of the whole building will be worked out separately then according to factors of base value, exact taxable areashould be arrived which should be apportioned on pro rata basis amongst all the flats, before calculating the tax of individual flats.


2.To workout pro rata basis area of parking, all the area of stilt, basement and podium etc should be added and then the total area should be apportioned on pro rata basis to each flat.


3.Floor factor upto 4`h floor is 1, for 5`h to 10`h floor is 1.05, 11 th to 20`h floor is 1.1 and 21st to 30`h floor is 1.15 and so on.


4.    If it is a R.C.C. building with swimming pool and gymnasium or club house or health club, it will be trated as luxurious R.C.C. building with weightage of 1.2, other wise it is I as per shecdule -B, see rule 6.


5.    Some members who do not use parking space may think that they are taxed for area they are not using. It is not so, because these area will generate income to the society under the head parking charge from those who will have cars and this income will be shared equally by all the members under the head maintenance.


6.    If there is an electric sub-station in the compound of the society, it will be taxed @ 0.575% on the area of structure valued at residential rates and taxed to the electric supply company.