Small Sobo Flats May Get Tax Concession

Thursday 15th March, 2018

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SMALL SOBO FLATS MAY GET TAX CONCESSION
AGE CORRESPONDENT
MUMBAI, MARCH 14
The government has agreed to give property tax concessions to flats admeasuring 500-700 sq ft in south Mumbai.
However, similar concession will not be applicable to other municipal corporations due to financial constrains. There are around 3.6 lakh residents living around the airport who have been demanding relaxation in the funnel zone restrictions to facilitate redevelop-
ment. BJP MLA Ashish Shelar, Parag Alavani and Shiv Sena MLA Sunil Prabhu raised the issue in the house.
Chief minister
Devendra Fadnavis spoke on various issues and assured that open spaces in Mumbai will not be compromised. Replying to a query by Mr Shelar on the property tax concession given to SoBo flats admeasuring 500-700 sq ft, the CM said that he would positively consider the proposal. "The BMC is resourceful and
can give concession to the flat owners in the property tax. We have given ?600 crore this year to the BMC in lieu of abolishing LBT," the CM added. However, he refused to extend the concession to houses falling in the ambit of other municipal corporations keeping in mind their financial
position. After delay of one year, the controversial Development Plan (DP) of Mumbai will get nod from the state government this month end.