Property Tax in Mumbai

Learn about property tax in Mumbai - online payment options and steps to pay your property tax conveniently.
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Property Tax in Mumbai
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3 mins
29th August 2023

Property tax is a significant financial responsibility for property owners. Managed by the Municipal Corporation of Greater Mumbai (MCGM), property tax plays a crucial role in funding the city's essential services and infrastructure projects. Read on to understand more about the property tax in Mumbai, including the tax rates, online payment options, and the process to ensure your property tax payments are up to date.

What is the property tax rate in Mumbai?

Property tax rates in Mumbai vary based on factors such as the property's type, location, size, usage, and age. MCGM determines these rates to ensure an equitable contribution towards the city's development and maintenance. Here is a general overview of property tax categories:

  • Residential properties: Tax rates for residential properties are calculated based on the property's built-up area, location, and usage. These rates can differ for self-occupied and rented properties.
  • Commercial properties: Commercial properties typically have higher tax rates due to their income-generating potential. Rates are influenced by the property's usage, location, and size.
  • Vacant land: Even if your property is vacant, you are still liable to pay property tax. The rates for vacant land are generally lower than those for developed properties.
  • New constructions: New constructions might be subject to higher initial tax rates, which can gradually decrease over time.

How to pay your property tax in Mumbai

  1. Obtain your property tax bill
    The first step is to obtain your property tax bill from MCGM. This bill outlines the tax amount due, based on your property's details.
  2. Calculate your property tax
    Using the information on the property tax bill, you can calculate the exact tax amount you owe. Mumbai residents can use MCGM's online property tax calculator available on their official website for this purpose.
  3. Generate the challan
    After calculating your property tax, generate a tax payment challan. This challan contains all the necessary details for making the payment.
  4. Online payment
    One of the conveniences of modern times is the ability to pay property tax online. MCGM's official website offers a secure online payment portal that accepts various digital payment methods, such as credit/debit cards, net banking, and digital wallets.
  5. Offline payment (if preferred)
    For those who prefer traditional methods, offline payment options are available. You can visit designated banks or MCGM offices to make your property tax payment in person.

Understanding the nuances of property tax in Mumbai is vital for contributing to the city's development and upkeep. By staying informed about tax rates, utilising online payment options, and following the payment process, you can fulfil your responsibilities as a property owner while contributing to the progress of the vibrant city of Mumbai. Stay updated with the latest information on MCGM's official website to ensure a seamless and hassle-free property tax payment experience.

How to a get loan against property in Mumbai

Here’s how you can apply for a loan against property in Mumbai:

  • Click the 'APPLY' button located on this page.
  • Input your pin code and proceed.
  • Fill in essential information such as your full name and contact number.
  • Choose the loan type, provide your net monthly income, area pin code, and desired loan amount.
  • Verify your phone number by entering and submitting the OTP generated.
  • Add additional information like your property's location, current EMI amount, and PAN number.
  • Hit the 'SUBMIT' button.
  • Your loan application is now complete.

A representative will contact you to assist with the next steps.

Interest rates on loan against property

When you are exploring financing options through a loan against property, it's essential to be aware of the loan against property interest rates. At Bajaj Finance, we offer competitive interest rates ranging from 9% to 12% (Floating rate of Interest). Understanding these rates helps you plan your finances better and choose a loan amount and tenure that suits your repayment capacity.

Pay property tax in other cities

Click on any of the links below to learn how to pay property tax in your city and stay ahead of your obligations.

Pay Property Tax City Wise

City

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Warangal

GWMC Property Tax

Haryana

Haryana Property Tax

Ludhiana

Property Tax Ludhiana

Mangalore

Property Tax Mangalore

Kolkata

Property Tax Kolkata

Bangalore

Property Tax Bangalore

Pune

Property Tax Pune

Noida

Property Tax Noida

Mumbai

Mumbai Property Tax

Navi Mumbai

NMC Property Tax Guide

Ghaziabad

Property Tax Ghaziabad

Indore

Property Tax Indore

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

How much is the property tax in Mumbai?

Property tax rates in Mumbai vary depending on several factors, including the property's location, size, type (residential or commercial), and its annual rateable value. The Municipal Corporation of Greater Mumbai (MCGM), also known as the Brihanmumbai Municipal Corporation (BMC), is responsible for assessing and collecting property tax in the city.

How can I check my property tax in Mumbai?

To check your property tax in Mumbai:

  1. Visit the official BMC website, typically https://www.mcgm.gov.in
  2. Find the property tax section on the website
  3. Use your Property Identification Number (PID) to access your property tax details
  4. Review your property tax details, including ARV and the amount due
  5. Make the payment using online methods provided on the website
Do we have to pay property tax every year in Mumbai?

Yes, property tax in Mumbai must typically be paid every year. Property tax is an annual tax that property owners are required to pay to the Brihanmumbai Municipal Corporation (BMC) or the Municipal Corporation of Greater Mumbai (MCGM). The tax is based on the property's Annual Rateable Value (ARV), and it is used to fund various municipal services and infrastructure development in the city.

Is property tax below 500 square feet in Mumbai?

To determine whether properties with a carpet area of 500 square feet or less are still exempt from property tax in Mumbai, you should visit the official MCGM website or contact their local offices for the most up-to-date and accurate information. Property tax policies can be revised, and exemptions can vary, so it is crucial to check the current regulations to understand the latest requirements for property tax in Mumbai.

How is property tax calculated in Mumbai?

Property tax in Mumbai is typically calculated based on the property's built-up area, type of construction, and location. The Municipal Corporation of Greater Mumbai (MCGM) assesses the property and determines the Annual Rateable Value (ARV), which is used to calculate the tax.

What are the payment modes for property tax in Mumbai?

Property tax in Mumbai can be paid through various modes, including online payment, payment at designated banks, and physically visiting Municipal Corporation offices. The MCGM website provides details on authorized payment methods.

Are there any rebates or discounts available for property tax payments in Mumbai?

Yes, the MCGM offers rebates or discounts for prompt payment of property tax. Early payment within the specified period can result in a percentage reduction on the total tax amount. Property owners should check the MCGM guidelines for current rebate details.

How can I check my property tax in Mumbai?

You can check your property tax details in Mumbai online through the official website of the Municipal Corporation of Greater Mumbai (MCGM). Simply enter your property identification number or your name to view your property tax bill, outstanding amount, and payment history.

Is property tax exempted in Mumbai?

Property tax exemptions in Mumbai are available for certain categories of properties and individuals, such as senior citizens and charitable organizations. However, not all properties are exempted. It's advisable to check with the local municipal authority or visit their official website to understand the eligibility criteria for exemptions.

How to pay individual property tax in Mumbai?

Paying property tax in Mumbai is a straightforward process. You can pay it online through the MCGM website using your property identification number or by visiting designated payment centers. Alternatively, you can also pay through mobile apps or by using net banking facilities offered by various banks. Ensure to pay before the due date to avoid any penalties.

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