NMMC commissioner declares no hike in property tax
Real Estate

NMMC commissioner declares no hike in property tax

Rajesh Narvekar, NMMC commissioner and administration, presented a surplus budget of Rs 25 million for 2023-2024, with a focus on completing ongoing civic projects; few new projects were announced this year.

The civic body's total expenditure is estimated to be Rs 49.92 billion, while revenue is expected to be Rs 49.25 billion.

There will be no hike in the property tax yet again- 18th year in a row. Former Airoli MLA Sandeep Naik said, “the civic administration has acknowledged our demand for keeping the property tax tariff intact without adding any burden on the residents. This is welcome move. More funds should be allocated for education and healthcare.”

Replacement of 30,000 streetlights with LED, an integrated bus terminal at Vashi, lighting of the Sion-Panvel highway from Vashi toll plaza to Belapur, an 800-seat capacity auditorium at Airoli, a 7.5km-long dedicated cycle track between NMMC headquarters and Sanpada Moraj Circle, tertiary water treatment plants at Airoli and Koparkhairane, and multi-level indoor parking at Belapur are among the ongoing projects.

Narvekar stated that the budget is realistic in light of citizens' needs. He admitted that the NMMC's e-toilet project and vertical garden concept did not provide the desired benefit to citizens. He stated that the budget was created with the lower strata of society in mind, with a focus on health and education.

Residents, though, have alleged that little has been incorporated in the budget of health, education, environment and sports. Activist Rajeev Mishra said, “It’s suitable for the elite class but has little to offer for the poor in the slum and gaothan pockets.”

The city's civic encroachment department will spend Rs 11 crore removing illegal structures. At the same time, it expects only Rs 4 crore in penalties and fines from encroachers, implying a significant loss in the NMMC coffers while protecting its own properties.

Several residents have welcomed the installation of air purifier towers at various locations to control rising pollution levels caused by massive construction and quarry activity.

NMMC has become completely debt-free after repaying all of its loans on time, saving Rs 12.50 crore, according to civic chief Narvekar.

See also:
No property tax reduction for merged villages with PMC
New Town Kolkata Development Authority starts property tax camps


Rajesh Narvekar, NMMC commissioner and administration, presented a surplus budget of Rs 25 million for 2023-2024, with a focus on completing ongoing civic projects; few new projects were announced this year. The civic body's total expenditure is estimated to be Rs 49.92 billion, while revenue is expected to be Rs 49.25 billion. There will be no hike in the property tax yet again- 18th year in a row. Former Airoli MLA Sandeep Naik said, “the civic administration has acknowledged our demand for keeping the property tax tariff intact without adding any burden on the residents. This is welcome move. More funds should be allocated for education and healthcare.” Replacement of 30,000 streetlights with LED, an integrated bus terminal at Vashi, lighting of the Sion-Panvel highway from Vashi toll plaza to Belapur, an 800-seat capacity auditorium at Airoli, a 7.5km-long dedicated cycle track between NMMC headquarters and Sanpada Moraj Circle, tertiary water treatment plants at Airoli and Koparkhairane, and multi-level indoor parking at Belapur are among the ongoing projects. Narvekar stated that the budget is realistic in light of citizens' needs. He admitted that the NMMC's e-toilet project and vertical garden concept did not provide the desired benefit to citizens. He stated that the budget was created with the lower strata of society in mind, with a focus on health and education. Residents, though, have alleged that little has been incorporated in the budget of health, education, environment and sports. Activist Rajeev Mishra said, “It’s suitable for the elite class but has little to offer for the poor in the slum and gaothan pockets.” The city's civic encroachment department will spend Rs 11 crore removing illegal structures. At the same time, it expects only Rs 4 crore in penalties and fines from encroachers, implying a significant loss in the NMMC coffers while protecting its own properties. Several residents have welcomed the installation of air purifier towers at various locations to control rising pollution levels caused by massive construction and quarry activity. NMMC has become completely debt-free after repaying all of its loans on time, saving Rs 12.50 crore, according to civic chief Narvekar. See also: No property tax reduction for merged villages with PMCNew Town Kolkata Development Authority starts property tax camps

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code