THE ARCHITECTS PUBLISHING CORPORATION OF INDIA
51, Sujata Bldg, Ground Floor, Rani Sati Marg,
Behind Malad Sahakari Bank, Near Railway Bridge (Goregaon side bridge),
Malad East, Mumbai - 400097
Tel : 91- 22 - 2883 5510, 2883 4442
(Office Time : 10 am to 1 pm & 4 pm to 7 pm)
Email : email@example.com
ON CAPITAL VALUE SYSTEM
(Approved by MCGM as on 21/06/2012)
Applicable for all the properties in Mumbai
Assessed or Constructed on or before 31/12/2010
and is applicable for a period of five years from 01/04/2010 to 31/03/2015
Rates of Taxes (PDF File)
For new buildings completed during the year 2011, 2012 & 2013
one must read above book for Capital Value rules along with
Stamp Duty Ready Reckoner and Market Value of Properties in Mumbai
for the year 2011, 2012 or 2013, as applicable, for Capital Value Rates
to arrive at Capital Value and Tax.
Earlier Edition on Rateable Value System
Book on the municipal property tax on the rateable value system titled “Property Tax Ready Reckoner Mumbai 2009-2010” has been published, which divides the whole city into 716 zones and sub-zones illustrated with maps. With the help of this book one can work out the property tax applicable on his property which is classified in ten different uses. According to Dr. J. M. Phatak, municipal commissioner, this book would be very useful to all architects, valuers and urban planners in Mumbai.
In view of great hue and cry about property tax on capital value system, it was felt necessary to enlighten the citizens about the rateable value system, which is presently adopted. This book gives letting rates of ten different uses, which includes vacant land in city and suburb.
Presently property tax on let out property is calculated on the actual rent realized by the owner and not on the letting rates adopted by the corporation, because letting rates of the Corporation is for self occupied properties only. This has created a great resentment because no one knew how the taxes were worked out. However, once the capital value system is introduced property tax will be the same whether it is owner occupied or leased out. With the help of this book one can work out the present property tax before letting out his property. The rates adopted by the Corporation is based on the Stamp Duty rates, hence it is of utmost importance that next Stamp Duty Ready Reckoner is released with great accuracy.
The book is authored by Santosh Kumar & Sunit Gupta, real estate valuers and sponsored by Rohan Lifescapes. It is published by the Architects Publishing Corporation of India and contains 216 pages priced at Rs.300. Further details contact: 28834442, 28835510.