NAVI MUMBAI: Property owners with seized assets will soon face auction for tax recovery in Navi Mumbai as a final opportunity to clear outstanding dues. The property tax department of Navi Mumbai Municipal Corporation (NMMC) decided to auction confiscated properties with tax arrears. The civic body began recruiting authorised govt valuers to assess these properties before auction. NMMC is urging property owners facing seizure to settle their outstanding taxes promptly to avoid the auction process.
The property tax department manages property tax collection within civic boundaries. According to NMMC officials, property tax bills are generated following Rule 39 of Schedule ‘D’ Chapter 8 of the Maharashtra Municipal Corporation Act. Properties with unpaid dues within the specified timeframe face confiscation under Section 128 and Chapter 8, Rules 42 to 48. The regulations also permit the auction of these confiscated properties.
“To facilitate tax recovery through property auctions, valuation is essential. The municipality advertised in various newspapers to recruit govt-registered valuers for their panel. Ten govt valuers submitted their applications, and the administration will shortly select a suitable candidate. Following the appointment, the valuer will assess the seized properties before proceeding with the auction process,” said NMMC commissioner Kailas Shinde.
The civic body received interest from ten govt valuers following the newspaper advertisement. Shinde encourages residents to clear their dues by March 31 to receive a 50% reduction in penalties under the current amnesty scheme. As NMMC proceeds with recovering tax arrears through property auctions, they advise defaulters to settle outstanding amounts promptly.
Navi Mumbai: Property owners with seized assets will soon face auction for tax recovery in Navi Mumbai as a final opportunity to clear outstanding dues. The property tax department of Navi Mumbai Municipal Corporation (NMMC) decided to auction confiscated properties with tax arrears. The civic body began recruiting authorised govt valuers to assess these properties before auction. NMMC is urging property owners facing seizure to settle their outstanding taxes promptly to avoid the auction process.
The property tax department manages property tax collection within civic boundaries. According to NMMC officials, property tax bills are generated following Rule 39 of Schedule ‘D’ Chapter 8 of the Maharashtra Municipal Corporation Act. Properties with unpaid dues within the specified timeframe face confiscation under Section 128 and Chapter 8, Rules 42 to 48. The regulations also permit the auction of these confiscated properties.
“To facilitate tax recovery through property auctions, valuation is essential. The municipality advertised in various newspapers to recruit govt-registered valuers for their panel. Ten govt valuers submitted their applications, and the administration will shortly select a suitable candidate. Following the appointment, the valuer will assess the seized properties before proceeding with the auction process,” said NMMC commissioner Kailas Shinde.
The civic body received interest from ten govt valuers following the newspaper advertisement. Shinde encourages residents to clear their dues by March 31 to receive a 50% reduction in penalties under the current amnesty scheme. As NMMC proceeds with recovering tax arrears through property auctions, they advise defaulters to settle outstanding amounts promptly.
