Mumbai: BMC Extends Deadline for Property Auctions to Recover Tax Dues

Mumbai: The Brihanmumbai Municipal Corporation (BMC) has extended the deadline for the auction of two city properties to recover pending property tax dues. The new deadline for registration for the online auction is now November 6. This extension comes as part of the civic body's ongoing efforts to recover significant tax arrears from property owners.

Earlier this month, the BMC announced plans to auction four properties located in Chunabhatti, Chembur, Kalbadevi, and Kandivli. The auction was expected to generate at least Rs 120 crore in revenue. However, the civic body has now confirmed that the owners of the properties in Chunabhatti and Kandivli have cleared their dues, leaving only two properties to be auctioned.

The remaining properties to be auctioned include a 3,000 square meter plot of land with a base price of Rs 37 crore and a privately owned house with shops in Kalbadevi, spread across 1,648 square meters, with a base price of Rs 26.01 crore. These properties are prime real estate in Mumbai, a city known for its high property values and limited land availability.

Last month, the BMC appointed an external agency to oversee the e-auction process. This move was taken to ensure transparency and efficiency in the auction proceedings. Civic officials have stated that if there is an inadequate response from bidders, the properties may be put up for re-auction. To be considered successful, an auction must receive a minimum of three valid bids.

The decision to auction these properties is part of the BMC's broader strategy to address the issue of pending tax dues. Property tax is a significant source of revenue for the civic body, and the timely collection of these taxes is crucial for funding various public services and infrastructure projects in the city.

The extension of the auction deadline is expected to provide potential bidders with additional time to prepare and submit their bids. This could potentially lead to a higher number of bids and a more competitive auction, ultimately benefiting the BMC in its efforts to recover the pending tax dues.

For more information on the auction process and how to register, interested parties are advised to visit the official BMC website or contact the civic authorities directly. The BMC is committed to ensuring a fair and transparent auction process, and this extension is a step towards achieving that goal.