Navi Mumbai civic body collects property tax of ₹465.7 cr in 9 months of FY24

Navi Mumbai civic body collects property tax of ₹465.7 cr in 9 months of FY24

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 ₹800 crore in the financial year 2023-24.