Mumbai developers contribute ₹11,626 crore to BMC in FY26
MUMBAI: Builders in the city emerged as the leading revenue source for the BMC during 2025-26, contributing a staggering Rs 11,626 crore in premiums and development charges. This figure reflects a significant increase from the BMC’s highest recorded property tax collection of Rs 7,610 crore in the previous financial year, driven primarily by extensive redevelopment projects. “The development plan department is the principal revenue generator for the municipal corporation,” stated a civic official. This amount marks the highest collection from developers since the Covid-19 lockdown. In October 2020, the BMC incentivized the real estate sector by offering a 50% discount…