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Wednesday, February 6, 2013

How to protest against New Property Tax in Mumbai - Seminar

Unless you protest,
the New Property Tax will burn a hole in your pocket.
Understand and Act Now!

Attend Seminar on Saturday, 9 February 2013 from 3 pm to 5 pm

Venue: Moneylife Foundation
305, Hind Services Industries Premises,
Off. Veer Savarkar Marg, Shivaji Park, Dadar,
Mumbai 400028

Contact: Phone 022- 49205000 Fax: 022-49205022
email: mail@moneylife.in

View How to protest against New Property Tax in Mumbai - Seminar in a larger map

New Property Tax Burden

Every housing society in Mumbai has received fat property tax bills with arrears for the past 3 years.

Do you really have to pay so much?

Property tax advocates and experts say that the Base Value being adopted by the Asst. Assessor & Collector from the Ready Reckoner itself is faulty.

There are a catena of judgments including that of the Supreme Court which have held that the property rate given in the Ready Reckoner (which the Government of Maharashtra publishes every January) is only for the purposes of determining the stamp duty and does not reflect the true market value of the property in a given case.

The Ready Reckoner does not take into consideration various parameters of valuation such as physical, legal, social and economic factors to arrive at the fair market value of the property.

The Ready Reckoner does not take into consideration various planning and design aspects, quality and materials used in construction, building regulations, conditions of money markets, estimated future life of the building, effect of outgoings to be paid for the property, title of the owner, unexpired period of lease, encumbrances in the property, surroundings of the property such as proximity to zopadpatti/ slums, frontage, allowance for joint ownership, effect of various Acts such as Urban Land Ceiling Act/ CRZ etc.

It is a cardinal principle of valuation of property that likes should be compared with likes and to arrive at the correct value. Due allowance should be given for factors, which enhance or depress the value.

Speakers :

Advocate Godfrey Pimenta:

Adv Godfrey Pimenta is a practising lawyer, President of Sahar Citizens Forum, Trustee- The Watchdog, Core Member of Save Our Land -SOUL Team and an ardent Right to Information (RTI) activist.

Mr Ashok Ravat:

Ashok Ravat, a qualified metallurgical engineer from UK in Systems and Operation Research is also a Trustee of WECOM. He is also Founder-Convenor of the Shivaji Park Advanced Locality Movement.
Please attend this seminar to learn how to lodge your protest. Each member of every housing society needs to file this separately. We are providing standard forms for how this should be done. Please attend to understand how to file your protest quickly.

Warm Regards,
Sucheta Dalal
Founder Trustree Moneylife Foundation

Related Story:

Ravi Karandeekar's Blogs on VAT - Maharashtra Value Added Tax (MVAT) on Property Bought between June 20, 2006 and March 31, 2010:

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  1. http://www.moneylife.in/article/moneylife-foundation-property-tax-burden-seminar-why-the-new-method-is-anti-people/31210.html

  2. very helpful information is published here for Mubaikar .....

    Real Estate Developer

  3. This comment has been removed by the author.

  4. This comment has been removed by the author.

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  6. Thanks Ravi for sharing information related to "Pune Real Estate Market".Its helps people to got more knowledge about rates of
    property in pune