A Guide to Property Taxes and Maintenance Charges in Mumbai
When you buy a home in Mumbai, whether it’s in Chembur, Ghatkopar, or Bandra, your financial responsibility doesn’t end at the purchase. Two recurring costs you’ll need to budget for are property tax and maintenance charges. Understanding them helps you avoid surprises and manage your cash flow smartly.
Gaurav Punjabi
7/28/20251 min read
1. First, what is property tax?
Definition:
A levy imposed on all residential and commercial properties by the Brihanmumbai Municipal Corporation (BMC).
How It's Determined:
The Capital Value System (CVS) used by the BMC is determined by the following factors: the property's location, carpet area, type (residential or commercial), and use (self-occupied or rented).
How to Pay:
Penalties are assessed for late payments. You can pay annually on the BMC Property Tax Portal.
Depending on the area and type, the annual property tax for a one-bedroom apartment in Chembur could be anywhere from ₹2,000 to ₹5,000.
2. What are charges for maintenance?
Definition
The money that housing societies collect in order to oversee and maintain shared facilities and infrastructure
Security and CCTV
Housekeeping and waste disposal, elevator, power backup, water charges; common area electricity, maintenance; clubhouse, gym, and swimming pool (if applicable) are among the things they cover.
Typical Rates
Typical rates vary by community and range from ₹2 to ₹8 per square foot of carpet space per month.
Because of their superior amenities, Chembur's newer high-rise constructions could cost more.
Who Covers These Expenses?
• Maintenance charges are paid by the owner (or the tenant, if stipulated in the lease agreement)
• Property tax is always paid by the owner.
Pro Tip
Prior to purchasing a resale apartment, always verify the current property tax obligations; inquire about the society's maintenance budget and future plans; and account for both in your monthly cost of ownership.
Conclusion
Even while maintenance fees and property taxes might not seem like much, they pile up over time. Being aware of these expenses up front aids in better planning and conflict avoidance.
We at Chembur Property assist you in determining the whole cost of homeownership, which goes beyond the sale price. We guarantee complete pricing transparency and peace of mind, whether you're buying in Chembur or all over Mumbai.