State Act

The Mumbai Municipal Corporation Act.

4[144D. Temporary provisions for levy of property tax at reduced rates in respect of cessed buildings.—Notwithstanding anything contained in section 140 or any other provisions of this Act, during the period of twenty years 5[from the 23rd November 1995] or from the date of first occupation of the tenements hereinafter specified, whichever is later, the property tax in respect of the residential tenements having carpet area not exceeding 350 square feet, situated in a building, in the Island City of Mumbai, which,— (a) is entitled to FSI benefit under regulation 33(7) of the Development Control Regulations for Brihan Mumbai, 1991; and (b) is a cessed building governed by the Maharashtra Housing and Area Development Act, 1976 (Mah. XXVIII of 1977) and is reconstructed or redeveloped by,— (i) the co-operative housing society formed by existing tenants; or (ii) the co-operative society formed by the occupiers (including owner occupier) of the building classified as Category ‘A’ under section 84 of the Maharashtra Housing and Area Development Act, 1976 (Mah. XXVIII of 1977); or (c) belongs to the Corporation, was first constructed prior to 1940 and is reconstructed or redeveloped, by the co-operative housing society formed by its occupiers; shall be levied at such reduced rate, as the State Government may, by notification in the Official Gazette, from time to time, fix ; and different rates may be fixed for different periods and for different tenements: Provided that, no tax at reduced rate shall be levied in respect of the residential tenement, in the building reconstructed or redeveloped by the co-operative housing society of the existing tenants or occupiers, if the existing tenant or occupier ceases to occupy the tenement in the reconstructed or redeveloped building as a member of such co-operative housing society.]