Monday, Nov 19, 2018 | Last Update : 05:53 AM IST

State earns Rs 25 crore from sale of leased properties

THE ASIAN AGE. | AISHWARYA NAIR
Published : Sep 4, 2018, 2:26 am IST
Updated : Sep 4, 2018, 2:26 am IST

Similarly, the state has also charged 25 per cent from the ready reckoner rate during transfer of lease of the Air India building at Nariman Point.

(Representational image)
 (Representational image)

Mumbai: The state government has collected Rs 25 crore ever since it started charging tenants wanting to sell their flats located on leased property. With the new rule, tenants need to get a no-objection certificate (NOC) from the collector's office before sale of the property. The government owns around 1,300 properties in south Mumbai of which, there are several spaces where residential buildings have been constructed.

Shivaji Jondhale, Mumbai city collector, said, “Whenever the tenant approaches the register for sale of flat, he will have to get our NOC to continue with the process. We charge the tenant by gauging the value and age of the property and 1.5 per cent is charged on the determined valuation. So far, we have collected Rs 25 crore and granted NOCs for resale of the property.”

Similarly, the state has also charged 25 per cent from the ready reckoner rate during transfer of lease of the Air India building at Nariman Point.

“This additional charge will help us boost the revenue. Till now, we have collected Rs 90 crore from the leased properties as revenue. The aim is to collect Rs 300 crore by the end of the year,” added Jondhale. The revenue will be collected till the end of the financial year.

Tags: leased properties