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Take care of Mumbai heritage bldgs to get tax benefits

Do you own any heritage structure? If you do and you protect and retain it properly, the Mumbai Heritage and Conservation Committee (MHCC) will give you higher incentives, besides the present transferable development right.

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Do you own any heritage structure? If you do and you protect and retain it properly, the Mumbai Heritage and Conservation Committee (MHCC) will give you higher incentives, besides the present transferable development right.  

According to a senior government official, the committee has proposed direct monetary benefits as well as indirect tax benefits.

“We have found that many people are not maintaining heritage structures and sites properly. We have decided to levy penalty on them and that revenue can be used for conservation and maintenance activities of heritage sites,” he said.

“Conservation fund can be created through pooling of resources like scrutiny fee.

It will be charged for clearance of proposals from the committee. The BMC can give relief in property tax, and other concessions, after the committee’s certification.”  

Committee chairman Dinesh Afzalpurkar confirmed that the new policy draft has been prepared. “It has been forwarded to the government for final approval. Government will make amendment in the DC rule and a notification will be issued. Our aim is to save and protect a maximum number of heritage structures across the city,” he told DNA

As per the draft, whenever the committee receives a development proposal of any heritage structure or site, the civic body will charge a fee.

“This collection will be called the heritage conservation fund. It will be controlled by the municipal commissioner. He will sanction the disbursement of grant and loan as per the committee’s advice,” stated the draft. There are more than 600 heritages structures across the city.  

A large numbers of buildings listed as heritage properties are mostly the tenanted type. If such properties are exempted from civic taxes, the loss in revenue will be negligible. 

Another official said that donations from corporate bodies and individuals will come in ample measure if such donations are entitled for claiming exemption under the provisions of the Income Tax Act. “Such donations will be considered by the I-T department for deduction from the total gross income of the individuals or corporate bodies. The Centre has to decide on this,” said the committee member. 

Sharada Dwivedi, historian and former committee member, said that this is a step in the right direction. “Those who are staying as tenants in heritage structures and precincts for the last 50-60 years, in areas such as Marine Drive and Churchgate, should be given the ownership right by charging a nominal price. This way the property can be maintained with full care,” she said.

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