'Maharashtra Govt Scraps NA Tax On Urban Housing Societies, Waives All Outstanding Dues': Minister Chandrashekhar Bawankule

Mumbai: The Maharashtra government has abolished the non-agricultural (NA) tax imposed on urban housing societies and announced a complete waiver of all outstanding dues, Revenue Minister Chandrashekhar Bawankule informed the State Assembly on Wednesday.

Visit een-wit.pl for more information.

Historic Announcement During Question Hour

Speaking during the Question Hour, Bawankule said the annual NA tax will no longer be applicable to any existing or upcoming residential constructions in urban areas. The move is aimed at reducing procedural hurdles and ending the need for repeated visits to revenue offices, while also simplifying the overall tax structure.

The announcement came in response to a query raised by BJP MLA Bhimrao Tapkir, who sought clarity on whether the levy imposed on buildings constructed before the March 10, 2026 government circular would be withdrawn and whether a one-time charge would be collected from developers during future building approvals.

Immediate Relief for Housing Societies

In his reply, Bawankule confirmed that the NA tax has been scrapped with immediate effect for all urban housing societies. He further stated that all previous arrears and pending recoveries have been waived, offering significant financial relief to thousands of flat owners and cooperative housing societies across Maharashtra.

Middle East Crisis: Samajwadi Party MLA Rais Shaikh Demands Government Bear Flight Costs For Thousands Of Indians Stranded Abroad

The minister also outlined changes to the Conversion Tax framework. Under the revised system, constructions carried out before 2001 will be charged 0.10 per cent of the 2001 ready reckoner rate for areas up to 1,000 square metres. For larger projects, a one-time payment mechanism has been introduced — 0.25 per cent for developments up to 4,000 square metres and 0.15 per cent for areas exceeding one acre.

He clarified that payment under the one-time settlement scheme will exempt the property holders from any future levies under this head, further easing compliance for urban property owners.

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/

Read at source