The Complete Guide on MCF Property Tax

Rapid economic expansion is associated with the government’s attempts to digitise the country’s layout. MCF  has made it possible for even more effective public utility initiatives such as municipal real estate taxes over the past centuries. An MCF property tax owner must have to pay stamp duty charges to the municipal council or local authorities. This involves all measurable real estate assets such as apartment buildings, industrial or commercial properties, and properties leased to others.  

Central government structures, small houses, and vacant units are typically excluded from real estate taxes and utilities such as power supply, water, and sewage. 

This article sheds light on MCF property tax, its types, last date to apply along with property charges. 

What is MCF Property Tax?

MCF property tax is the quantity that building owners should payable to their own local authorities to support the city’s community tasks. The MCF  accumulates real estate taxes from all urban areas; two times yearly. 

• NIT(New industrial town) Zone I, II, and III
• Old Faridabad Zone I and II
• MCF BLB Zone I and II

Faridabad’s municipal corporation evaluates and enforces real estate taxes depending on a variety of variables, for example, estate area, renovation, development, and size. The funds raised are mainly used for essential services such as road repairs, the construction of institutions such as schools and universities, and the improvement of city cleanliness.

The earnings community has been subdivided into 35 units that are ruled by the government Company. Property owners who would like to pay their stamp duty digitally can do so by visiting MCF’s property tax official portal.

Types of MCF Property Tax 

Property tax is a significant source of finance for the MCF(Municipal Corporation of Faridabad)  to maintain essential facilities in the city. With the opening of the urbanisation online Real estate Tax payment facility, you can pay your taxes even sitting at your own house. There are two modes of payment are available such as 

Via Online

Every year real estate taxes are gathered twice a year. In addition, the process is categorised into two parts. The following steps are as follows to pay online for MCF property tax.

Step 1: Visit the official website of MCF.

Step 2: A new page will appear on your screen, enter the details like ‘Login Type’, and ‘Username’ and click on the ‘login’ button.

Note: If you are a new user then you can also get registered by visiting the official portal. Moreover, you can even check the online application status of your records.

Step 3: Verify the total amount, and the remaining date and select the option to make pay payment for the taxes. 

Step 4: Once all the details are verified and filled, the payment mode option will screen on your screen. 

Step 5: Fill out the credentials and click on the send OTP. 

Step 6: After receiving the valid OTP and submit it. 

Via Offline

Some of the steps are mentioned below for MCF property tax Offline mode. 

Step 1: Go to the nearest regional office of your municipal corporation. 

Step 2: Take the required documents along with you, for example, Identity proof, a copy of tax property, and two recent size photographs for verification.

Step 3: Once the verification is complete, you can make the payment for the Property Tax at the payment window.

Step 4: Collect the acknowledged receipt after making the payment and must keep it for future usage. 

How to Calculate MCF Property Tax?

Let’s go into detail about the computation of the MCF property tax which is quite complicated. MCF property tax is determined by a number of variables, which are mentioned below:

• Individuals, self-employed professionals, and businessmen will have different tax calculations.
• The phenomenon of the organisation depends upon MCF property tax and also influences the MCF possession tax.
• The income source is also important in calculating the MCF Faridabad residence fee.

You can calculate the property tax by mentioned below formula:

Faridabad Nagar Nigam Property Tax = Build up region * Property Age factor* value of the base * property type * usage category * factor of the floor

Last Date for Payment of MCF Property Tax

Property tax is an essential element of finances under the MCF(Municipal Corporation of Faridabad. It assists in maintaining vital services in the city. Generally, the rate of interest for real estate varies inbetween 5% to  20%. 

Annually, the deadline for 1st  half is 30th April (every year)  and the deadline for the 2nd quarter is 30th October(every year). You can also select your real estate taxes by 31st July.

Several states do not impose delayed payment penalties. But Municipal Council of Faridabad charges 1.5 % rate of interest per month on the overall MCF property tax. In addition, if an applicant pays entire sum before the deadline, 31st july then tax payers will receive a profitable reward of 5 % by the state government. 

Property Tax Rates in Faridabad(2022- 2023)

The MCF imposes a property tax including all residential housing located in Faridabad’s urban zone. The collected tax is used by the state government for the implementation of numerous schemes for society and citizens. Let us proceed and learn about the MCF property tax, which includes charges on various types of properties.

Residential 

Generally, residential taxes are obtained based on the area of the land. Therefore, MCF levies the least amount of real estate tax on small and medium-sized rental housing. On the other hand, large residential properties are subject to the maximal amount of MCF property tax. The residential property tax is calculated based on the per square yard of the overall space. However, it varies for total square yards across categories.

Commercial

The real estate tax on Commercial land is much higher than residential space. This greater MCF Faridabad residence tax contributes income sources for various folks, who have invested funds into real estate. The below table represents the charges based on the space for MCF property tax.

Institution Land

For institution land,  the costs per square yard of the region are subject to the MCF taxation. The taxes are lower than those of commercial real estate or workspaces. This is because an organisation is part of the social services team.

Vacant Residential Land

Such types of residential land allure minimal property tax rates issued by the MCF property tax.

MCF Property Tax Payment

The Municipal Corporation of Faridabad has been constantly working in order to enhance its citizen services. The MCF has made online payment of house tax so easy that it is just a matter of minutes. Although, the traditional method of filling the MCF property tax offline is also available to citizens, and that too has been made hassle-free. Proceed further and we will guide you through both the modes of filling the MCF property tax, Offline as well as Online.

How to Pay Property Tax Online in Faridabad?

Follow the below-listed instructions step by step and you will easily pay the MCF property tax.

• Visit the official website of the directorate of urban and local bodies, Haryana-

• Enter the required details which include-

1. Type of MC & Name
2. Name of Zone
3. Name of Colony
4. ID of Property
5. Old ID of Property if applicable
6. Name of Owner
7. Name of Father
8. Property Number

• Once you fill in all these required details, the property of your choice, for which you want to pay the MCF property tax will be displayed.
• Then upon clicking proceed, all your tax details will be displayed.
• Confirm the details and proceed to complete the payment through different available modes.
• Upon successful completion of the payment, a transaction receipt will be automatically generated. Save and preserve that for future references.

How to Pay Property Tax Offline in Faridabad?

For the purpose of filling the MCF property tax offline, you have to visit the nearest MCF office in your area and provide them with the required details such as the property ID and some other relevant documents. The concerned department will go through your details and assess the total payable property tax by you to the MCF property tax. At last, the cashier will provide you with an acknowledgment receipt for your successful payment.

Some other vital information-

MCF has several aspects that citizens should know more about. Evading taxes till a certain number will make you liable to pay the same amount as the penalty. If you pay late, you will have to pay 1.5% as monthly interest.

Ex-military professionals/families/spouses of deceased freedom fighters will have 100% tax rebate. This rebate is also given for land used for agriculture needs. 50% may be given to State Government entities if they fulfill the criteria.

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Frequently Asked Questions (FAQ’s)