x 2 bhk flats near Mulund Station | No hike in property tax in Mumbai | Sunny Developers Mulund Mumbai

Why Investing in property in mulund makes Perfect Sense

All of us who invest in real estate hoping to get better returns on the property in the future. This is what makes it important to make a wiser decision when making the very first real estate investment. Those who are looking to invest in a property in mulund can choose from new projects in mulund west as the locality is known for amazing residential properties it offers that suit the needs of one and all.

The city of Mumbai has seen immense growth in the past decade and the added Bollywood factor attracts a number of people from all over the country. Owning a property in Mumbai has become a dream of many and this especially holds true for those who were born or were raised in the same city.

To make this dream a reality, first-time property buyers need to choose locations like Mulund for their investment as the locality is filled with new construction project in Mulund west that are well within the budget. The middle-class society who always wished to have a dream house of their own can now make their dream a reality by owning a 2 BHK flats in Mulund

 It is also important to note that the demand for residential properties in places like Mulund East and Mulund West is increasing day by day, thanks to the amenities provided at a much affordable price.

Mulund and the surrounding areas of this locality have become the most preferred choice for many first time home buyers and these properties are also preferred by those who are looking to invest in a second property. With the prices of flats in the main city being overpriced, many home seekers are now looking forward to owning their dream house in suburbs areas that are at a short distance from the main city of Mumbai. This is one of the main reasons as to why the demand for 2 BHK flats in Mulund as seen a major spike.

So, if you are looking for an Affordable homes in mulund west that has all the needed facilities for your family to stay in comfort, choose from various properties located in Mulund, Mumbai.

2 bhk flats near Mulund Station | No hike in property tax in Mumbai - Mulund

No hike in property tax in Mumbai

Homeowners rejoice the decision to defer property tax hike in Mumbai this year. Brihanmumbai Municipal Corporation (BMC) revises property tax every five years; however, the pandemic delayed the revision set for 2020 and rescheduled it for the current year. Nevertheless, it has been deferred again and seen as a sop ahead of the BMC poll. Read on to know about the decision further!

Brihanmumbai Municipal Corporation (BMC) has deferred the impending hike in property tax in Mumbai for a year. The last revision was held in 2015 and was likely to revise by 2020. However, the corporation postponed the hike for two years to give respite to the owners during the pandemic. The decision brought a sigh of relief for owners of properties in Mumbai as they could save on property tax for another year.

Why is the property tax deferred in Mumbai?

Several MLAs requested CM Eknath Shinde to defer the hike for another year as it would burden the homeowners to pay additional property tax by around 16-20 percent. The decision is regarded as sop ahead of the civic poll.

How much hit would BMC take?

BMC is expected to take a Rs 1,080 crore hit in revenue by not increasing property tax in Mumbai for the current year. As per officials, the pandemic has already hit the property tax collection during the last two years.

The BMC is also relinquishing Rs 462 crore due to the property tax waivers given to those living in homes below 500 sq. ft. This concession was implemented on January 1, 2022. Around 16.14 lakh residential flat owners have availed the benefit of it.

What are some other decisions related to property tax?

Additionally, the Panvel Municipal Corporation (PMC) will give a 50 percent rebate on pending property tax till the end of September 2022. This decision has been made to benefit those who could not avail a 75 percent rebate given earlier.

As per senior civic officials, around Rs 10 crore property tax was collected in the last week of July. The collection stands at Rs 62 crore during the current fiscal year so far.