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On Saturday, Maharashtra Chief Minister Uddhav Thackeray announced the state government's decision to waive off property tax on residential units measuring upto 500 sq ft in Mumbai.
- This move comes just before the Mumbai civic body election next month.
The decision, termed as a "New Year Gift" to the people of Mumbai, was the fulfillment of a promise that the Shiv Sena had made before the Mumbai civic body election in 2017.
"Shiv Sena has fulfilled many of its promises made in 2017. For Mumbaikars, we had promised to waive off the property tax up to 500 sq ft. Today we are fulfilling that important promise" said Thackeray while announcing the decision via a virtual meeting on Saturday.
BMC Commissioner Iqbal Singh Chahal, during the meeting informed that there are more than 16 lakh residential properties in Mumbai below 500 sq ft and that the civic body would incur an annual lose of Rs 452 Crore due to the move.
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