Track2Realty: Strongly opposing the new property tax structure proposed by Brihanmumbai Municipal Corporation (BMC), realty estate developers body MCHI-CREDAI has extended support to the consumer agitation against the new slabs.
Flat owners are worried that the property tax amount, as calculated by the new formula, will result in doubling of the dues which are supposed to be paid by this month end.
Over 35,000 housing societies along with 40 NGOs plan a one-day hunger strike and a rally against the new property tax system.
Paras Gundecha, President, MCHI-CREDAI, said the new property tax formula is against the consumer interest.
At a time when the common man is already burdened with the series of taxes like stamp duty and VAT, the increased property tax is bound to deal a cruel blow to flat owners, he said.
As inflation is taking a toll on everyone, the consumer is under tremendous pressure due to job loss, economic slowdown, and taxes at every stage of his life. It is high time the government brings greater clarity in the calculation methods it uses for these taxes and reduce the burden on consumers, Gundecha added.
