Latest News | Navi Mumbai Civic Body Collects Property Tax of Rs 465.7 Cr in 9 Months of FY24

Thane, Jan 4 (PTI) The Navi Mumbai Municipal Corporation (NMMC) has collected Rs 465.70 crore as property tax in nine months of the financial year 2023-24 compared to Rs 398.65 crore in the same period of the previous fiscal, officials said.

Property tax is one of the major source of revenue for the NMMC. Navi Mumbai is a major industrial belt in the Mumbai Metropolitan Region.

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The civic body laid emphasis on recovering arrears, leveraging data from newly assessed properties and conducted the first phase of LiDAR (Light Detection And Ranging - a remote sensing & surveying technology) survey in the Maharashtra Industrial Development Corporation (MIDC) area, an official release said.

With three months still left, the NMMC has set a target of collecting property tax of Rs 800 crore in the financial year 2023-24.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)