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Entry to Mumbai become Toll Free - Advantage Renters

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Entry to Mumbai become Toll Free - Advantage Renters

Entry to Mumbai become Toll Free - Advantage Renters

Entry to Mumbai become Toll Free - Advantage Renters

The recent toll waiver for light motor vehicles at key entry points into Mumbai is a significant move by the Maharashtra government aimed at benefiting daily commuters and reducing traffic congestion. Here are the key takeaways:

  1. Toll Waiver Details:

    • The toll exemption applies to light motor vehicles such as cars, jeeps, and vans.
    • It impacts five major toll booths: Dahisar, LBS Road-Mulund, Eastern Express Highway-Mulund, Airoli Creek Bridge, and Vashi.
    • Vehicles previously paid ?45 at these booths, and the waiver is expected to benefit around 2.8 lakh vehicles daily.

  2. Traffic Impact:

    • Around 80% of the 3.5 lakh vehicles passing through these toll points daily are light motor vehicles, so the waiver is anticipated to ease congestion.

  3. Political Context:

    • The decision comes ahead of state Assembly elections, sparking debate about its timing.
    • While some view it as a welcome relief for commuters, others, including opposition parties, see it as a political strategy.

  4. Revenue Concerns:

    • Despite the relief for light vehicles, heavy vehicles are still subject to tolls, raising concerns about revenue loss for the state.

This toll waiver could have a mixed impact, providing immediate relief for drivers but potentially leading to challenges for state finances in the long term. However, if you look at the real estate side, it will have a little impact surely as people who feel the pinch of commuting every day and specially renters who used to shy away from these locations will now have that moral boost of not having to spend that couple of thousands as toll. Seamless entry to Mumbai without having to be in lone queues and paying will surely build good moral sentiment. What it needs to be seen is that, what if the same taxes are reapplied after the Polls are done in November 2024.

 
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About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/

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