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

Next Story
Technology

AirBrick Infra Sets Rs 1 billion Target, Expands to Dubai and Tier-II Cities

AirBrick Infra, one of India’s fastest-growing AI-led commercial interior design and build firms, has announced a sales order target of Rs 1 billion for FY 2025–26. The projection represents a 50 per cent growth over the previous fiscal year and reflects rising demand, increased repeat business, and the company's robust tech-first delivery model.  Now in its third year of operations, AirBrick continues its rapid scale-up, having successfully delivered over 70 projects spanning 3 lakh sq ft in FY 2023–24. FY 2024–25 witnessed the onboarding of several Fortune 500 clients, sett..

Next Story
Resources

Virtusa Foundation Powers Green Education Drive in Bengaluru

The Virtusa Foundation, CSR arm of digital engineering and technology leader Virtusa Corporation, has announced key infrastructure and mobility initiatives at the Ramakrishna Mission, Shivanahalli, Bengaluru. The launch marks the inauguration of a 16-room residential facility for lady teachers and the deployment of two solar-powered electric buses, underscoring Virtusa’s commitment to its core pillars of Education, Environment and Empowerment (3Es).  Located on the forest fringe near Bannerghatta National Park, the initiative supports tribal and underserved communities, complementi..

Next Story
Infrastructure Urban

Godrej Enterprises Drives India’s Smart Green Logistics Shift

As India accelerates its transformation into a global manufacturing and logistics hub, Godrej Enterprises Group (GEG) is taking the lead with its smart, sustainable intralogistics solutions. Through its Material Handling Equipment (MHE) and Storage Solutions businesses, GEG is redefining operational efficiency in modern warehouses and factories using IoT, automation, and AI. GEG has consistently maintained a 20–25 per cent market share in the intralogistics sector over the past three years. Today, over 37 per cent of GEG’s revenues come from its Good & Green portfolio, and its net..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?