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3w ago

Indian Municipal Corporations Achieve Record Property Tax Collections for FY 2024-25

Cities like Mumbai, Navi Mumbai, and Ghaziabad report historic revenues, while Pune surpasses last year's collection but misses its target.

Last Friday, the corporation in its executive committee meeting approved the agency’s highest ever budget of ₹3,722 crore for FY 2025-26, and its officials promised more infrastructure development. (Sakib Ali/HT Photo)
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Overview

  • The Brihanmumbai Municipal Corporation (BMC) collected ₹6,172 crore, achieving 99.54% of its target and recovering ₹1,600 crore in outstanding dues.
  • Navi Mumbai Municipal Corporation (NMMC) achieved its highest-ever property tax collection of ₹795 crore, aided by the 'Abhay Yojana' offering late fee reductions.
  • Ghaziabad Municipal Corporation (GMC) collected ₹340 crore, its largest-ever property tax revenue, and added 30,000 new households to its tax net for the first time.
  • Pune Municipal Corporation (PMC) collected ₹2,365.31 crore in property tax, exceeding last year's total but falling short of its ₹2,847.23 crore target.
  • GMC approved its highest-ever budget of ₹3,722 crore for FY 2025-26, focusing on infrastructure development as cities plan to utilize increased revenues.