Navi Mumbai Municipal Corporation Achieves Historic Property Tax Collection Nearing ₹800 Crores In Financial Year 2024-25

Mumbai: The Navi Mumbai Municipal Corporation (NMMC) has reached a historic property tax collection of Rs 795 crore for the first time ever. High-ranking officials from the property tax department mentioned that this amount might increase since the deadline for online payments remains available until midnight.

A campaign was launched to engage delinquent taxpayers, and the collection offices stayed open during holidays. Moreover, the 'Abhay Yojana' was introduced on March 10, 2025, providing a 50 percent reduction on late fees for outstanding payments if settled by March 31, 2025.

Municipal Commissioner took advantage of the chance to auction assets owned by individuals with tax debts, after sending notices to proprietors with unpaid taxes for three straight years, including state entities. This initiative led to the largest recovery of property taxes in the municipality's history, according to report by Lokmat.

Municipal Commissioner Dr. Shinde advised property owners at risk of confiscation to settle their debts right away, cautioning that seized properties would go up for auction beginning in April 2025.

Navi Mumbai Municipal Corporation Achieves Historic Property Tax Collection Of ₹795 Crores. Comparative data shows a steady increase in property tax income over the years: ₹521 crore in 2021-22, ₹562 crore in 2022-23, and ₹666 crore in 2023-24.

During the first nine months of the financial year 2023-24, Rs 465.70 crore has been gathered, rising from Rs 398.65 crore in the equivalent timeframe of the prior year. The NMMC aimed to reach its target of Rs 800 crore for the whole financial year, ultimately arriving at Rs 795 crores.

PMC Achieves Record Property Tax Collection

The Panvel Municipal Corporation (PMC) has reached a historic Rs 400 crore in property tax revenue this financial year, representing its highest earnings since being founded in 2016.