Bengaluru Apartment Rentals to Become Costlier: Guidance Value Based Property Tax Hike proposals in Line, Double Tax for Rental Properties

Apartment Rent burden on Bengalureans set to Increase as Property Tax Hikes are anticipated to Hike based on the Minimum Value of Properties
By Manu Sharma - On February 28, 2024 2:01 pm - 2 mins read
Bengaluru Apartment Rentals - Property Tax Hike - Property tax hike in Bengaluru - Rental property tax changes Bengaluru - Taxscan

Bengaluru’s real estate landscape is set to change as the Bruhat Bengaluru Mahanagara Palike ( BBMP ) considers a transition to guidance value-based property tax collection. This move is poised to trigger a notable increase in property taxes, subsequently driving up apartment rentals in the already competitive market. Meanwhile, Mumbai’s Brihanmumbai Municipal Corporation ( BMC…

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