Updated 17:08 IST, February 25th 2025 The Navi Mumbai Municipal Corporation (NMMC) on Tuesday approved a ₹5,709.95 crore budget for the financial year 2025-26, focusing on infrastructure development Thane: The Navi Mumbai Municipal Corporation (NMMC) on Tuesday approved a ₹5,709.95 crore budget for the financial year 2025-26, focusing on infrastructure development, revenue growth, and civic improvements.
The budget did not impose any new taxes, as civic elections were expected in the coming months. The budget allocated ₹5,684.95 crore for expenditure, leaving a surplus of ₹25 crore.
Officials emphasized that revenue generation would be boosted by bringing properties outside the tax net into the system. Focus on Development & Livability NMMC Commissioner and Administrator Kailas Shinde stated that the budget aimed to improve Navi Mumbai’s livability index while ensuring comprehensive development in education, healthcare, civic amenities, environment, and infrastructure for the disabled. Addressing reporters, Shinde clarified that the decision to avoid new taxes was not influenced by elections but focused on public welfare.
He highlighted that property values in areas like Palm Beach Road had surged from ₹2.5 lakh per square foot to ₹5 lakh, mainly due to the upcoming international airport. “This economic growth is expected to attract high-end infrastructure, including luxury hotels, further enhancing municipal revenue,” he added.
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