Capital Valuation of your property

Mumbai, 3rd April, 2017:

Unknown to most Mumbaikars, BMC issued a circular last month giving notice that the Capital Valuation for the forthcoming years has been completed for fixing up property tax applicable to property owners and that “they will be available for inspection at the office of the Asstt. Assessor and Collector in the respective wards… between 23rd March 2017 to 13th April 2017.” It added that “complaints against the Capital Values… must be made in writing by the property owners themselves or by the persons duly authorized by them under a power of attorney.”

 

BMC’s notice may be downloaded from this link:  http://bit.ly/MCGM-Notice-23-3-2017

 

Sometimes, the assessment department makes mistakes in fixing the capital value, which results in huge disputed dues. If the window of opportunity given under the circular is not promptly availed, then property owners such as housing societies are left with the costly option of going to small causes court against excessive billing.

 

It is quite easy to verify the capital valuation from BMC’s website (https://prcvs.mcgm.gov.in/ ), by entering the Property Tax Account Number and other details. However, it is difficult to draft a proper complaint in case of mistakes in capital valuation are discovered. To assist Cooperative Housing Societies in exercising this right, Andheri-based NGO Maharashtra Societies Welfare Association (MSWA) has created a downloadable format with the help of Property Tax Department insiders.

 

Download the complaint format from: 

http://bit.ly/BMC-Complaint-Form

 

In case, the capital valuation of their property is excessive, office-bearers of housing societies may download this useful format, fill it up and submit it before 13th April 2017.

 

CA Ramesh Prabhu, chairman of MSWA, remarked, “It is unfair that only three weeks time is given to citizens for verifying the new capital valuations, on the basis of which lakhs of rupees are charged to more than 30,000 cooperative housing societies and other property owners. Butwe will do whatever we can to facilitate citizens of Mumbai to respond to this circular,” he said. Mr  Prabhu appealed to office-bearers of housing societies to take the circular seriously, as the impact of wrong valuation be lakhs of rupees.

 

Housing societies may contact MSWA’s helpline number 022-42551414 and also Whatsapp no. 70455 99702. MSWA Members will receive free-of-charge assistance in assessment of valuation, submission of this complaint and follow-up.

 

ISSUED BY

Krishnaraj Rao

9821588114

krishr.mswa@gmail.com

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