BMC Seizes Over ₹2,000 Crore Worth of Properties from Tax Defaulters

The Brihanmumbai Municipal Corporation (BMC) has intensified its efforts to recover unpaid property taxes by seizing properties worth over ₹2,000 crore from major defaulters. This decisive action aims to bolster the city’s revenue and fund essential public services.

Over the past decade, the BMC has seized 3,564 properties, but the process of auctioning these assets has been slow. To expedite the recovery process, the civic body has appointed a specialized consultant to assess the value and ownership of 67 properties worth up to ₹355 crore. A report on the potential auction of these properties is expected within a month.

To further streamline the recovery process, the BMC has engaged a private agency to identify additional properties owned by defaulters. This proactive approach will help the civic body target high-value assets and maximize revenue collection. The BMC has also implemented measures to improve property tax collection efficiency. Property owners are now required to settle their tax dues within 90 days of receiving the bill. Failure to comply can result in various penalties, including water disconnection and property seizure.

While the BMC has made significant strides in property tax recovery, challenges remain. The lack of timely rate revisions and exemptions for residential properties up to 500 square feet have impacted revenue collection. To address these issues, the BMC needs to implement effective strategies to encourage timely tax payments and streamline the assessment process. By taking decisive action against property tax defaulters and improving its collection mechanisms, the BMC can ensure a steady flow of revenue to fund critical infrastructure projects and public services.