SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

BMC seizes properties of two developers over INR 21.6 crore unpaid property tax

#Taxation & Finance News#India#Maharashtra#Mumbai City
Last Updated : 14th Mar, 2025
Synopsis

Earlier this week, the Brihanmumbai Municipal Corporation (BMC) initiated action against two developers-Sumer Build Corporation Private Limited and RR Developers-over outstanding property tax dues amounting to INR 18 crore and INR 3.62 crore, respectively. As part of its ongoing crackdown on defaulters, the civic body has seized and attached their properties for failing to settle their dues within the stipulated period of 21 days. According to a BMC release, the property tax assessment and collection department has begun proceedings to seize and auction these assets. Sumer Build Corporation owns a plot in Mazgaon, while RR Developers has a plot situated in Gavanpada village, Mulund.

Earlier this week, the Brihanmumbai Municipal Corporation (BMC) seized and attached properties belonging to two developers-Sumer Build Corporation Private Limited and RR Developers-due to their failure to clear property tax dues. Sumer Build Corporation owes the civic body a sum of INR 18 crore, while RR Developers has outstanding dues of INR 3.62 crore.


As per an official release issued by the BMC, the civic administration had recently commenced a stringent crackdown on defaulters who have failed to pay their property taxes. This drive involves the seizure and auctioning of properties belonging to those with outstanding dues.

Sumer Build Corporation's seized property is a plot located in Mazgaon, while RR Developers' property, now attached by the BMC, is situated at Gavanpada village in Mulund. Officials stated that the action was taken because the establishments in question had failed to remit the tax amount within the mandated period of 21 days.

This move forms part of a larger crackdown, indicating that other defaulters may soon face similar action if they fail to clear their outstanding taxes. The seized plots in Mazgaon and Mulund may now be auctioned as part of recovery proceedings.

Have something to say? Post your comment