7 hrs ago
Mumbai Civic Body Auctions Three Properties to Recover Tax Dues
Mumbai’s civic body is trying to collect unpaid property taxes.
It has put three commercial properties up for auction.
One of them is the Imperial Grand Palace Hotel.
The hotel is at Royal Palms in Aarey Forest.
The civic body expects the three auctions to recover Rs 74.98 crore altogether.
It expects Rs 41.52 crore from the hotel auction.
The BMC says it has not auctioned attached properties to recover tax dues since 1984.
It also says this is its first property attachment linked to the Royal Palms project for property-tax recovery.
The Brihanmumbai Municipal Corporation has put three commercial Mumbai properties up for auction to recover tax dues.
The properties are expected to help recover a total of Rs 74.98 crore.
One property is the Imperial Grand Palace Hotel at Royal Palms in Aarey Forest.
The hotel auction is expected to recover Rs 41.52 crore in pending dues.
The BMC says this is its first auction of attached properties for tax recovery since 1984.
- Who
- The Brihanmumbai Municipal Corporation (BMC).
- What
- It has put three commercial properties up for auction to recover Rs 74.98 crore in tax dues.
- Where
- Mumbai; one property is the Imperial Grand Palace Hotel at Royal Palms in Aarey Forest.
- When
- The article gives no auction date; it says this is the BMC’s first such auction since 1984.
- Why
- To recover pending tax dues and boost revenue.
Key facts
- Properties for auction
- Three commercial properties in Mumbai
- Expected total recovery
- Rs 74.98 crore
- Hotel included
- Imperial Grand Palace Hotel
- Hotel location
- Royal Palms, Aarey Forest
- Expected recovery from hotel
- Rs 41.52 crore
- Previous auction
- The BMC says it last auctioned attached properties for tax recovery in 1984.
Sources
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