Mumbai: After two defaulters cleared their property tax dues, the BMC will now auction two properties with pending dues located in Kalbadevi and Chembur. However, the deadline for the auction, originally scheduled for Wednesday, has been extended by a week to November 6. The total revenue expected from this auction is around Rs 63 crore.
Public Notice Issued For Auction Of Five Properties
On October 1, the BMC issued a public notice to auction five immovable properties due to unpaid property taxes. One of them — a Vile Parle property with dues and penalties totaling Rs 19.36 crore — has cleared its outstanding amount.
However, the remaining four properties, which include land parcels, shops, and a residential house, were still up for auction as the defaulters have not settled their dues. "The owners of the two properties at Chunabhatti and Borivali have cleared their dues," said a senior civic official.
Remaining Two Properties Up For Auction
Consequently, the civic body will now auction the remaining two properties. One is a plot of land owned by the Housing Commissioner of Bombay, with a base price of Rs 37 crore and an area of 3,073.14 sq.m. The other is a residential-cum-commercial unit on Abdul Rehman Street, with a base price of Rs 26.01 crore and an area of 1,648 sq.m. An agency has been appointed to conduct the online auction.
BMC May Conduct Re-Auction If Bidders Are Insufficient
Civic officials stated that if authorities fail to receive responses from enough bidders, a re-auction of the property may be conducted. For an auction to be successful, a minimum of three bidders must be recorded in the system.
Also Watch:
The last property auction took place around four decades ago. Meanwhile, the city’s cumulative outstanding property tax dues have soared to Rs 22,000 crore, including penalties accrued over the past 15 years, with some cases dating back to 2010.
To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
