BMC Eyes Solar-Powered Future: Tax Rebates on the Horizon for Green Housing

Mumbai: In a bid to encourage sustainable practices, the Brihanmumbai Municipal Corporation (BMC) plans to introduce property tax rebates for residential societies and complexes installing solar panels. This initiative aims to promote green construction and aligns with state and central policies on renewable energy.

Currently, the BMC offers a 2% rebate on property tax for societies adhering to the 'zero garbage policy' and another 2% for those utilizing recycled water or rainwater harvesting. The proposed solar energy rebate, a long-pending initiative, adds a fresh layer of incentives for eco-friendly practices.

A civic official revealed that the plan is in its initial stages, with a draft policy under preparation. Key considerations include the solar plant's capacity, electricity generation, and consumption metrics. If approved, the rebates could be implemented from the 2025-26 financial year.

By the end of December 2024, the BMC had already collected ₹5,847.68 crore in property tax for the year. For 2024-25, the civic body has amassed ₹4,188 crore, achieving 68% of its ₹6,200 crore target.

This move underscores the BMC’s commitment to fostering sustainability and reducing dependence on conventional energy sources, reinforcing Mumbai’s stance as a progressive urban hub