is loaded in this area ready reckoner rates too are high in andheri west he saidthe d ward which comprises areas such as malabar hill walkeshwar nepean sea road breach candy and altamount road fetched the bmc rs 203 crore from 11042 buildings last year these areas have among the most expensive real estate in the country with property prices as high as over rs 1 lakh a sq ft however since most of these landmark residential buildings are over 5060 years old the property tax levied is substantially lowerthe gsouth ward of mahalaxmiparel with 8236 buildings also contributes among the highest property tax in mumbai last year the bmc collected rs 364 crore this is mainly because of the new luxury skyscrapers and commercial towers that have proliferated on defunct textile mill plotsmumbais landscape is undergoing tectonic shifts it is an anarchic growth due to lack of planning and no comprehensive vision about the citys built form environment said daswhere is the infrastructure to support the rampant and haphazard development taking place in the city asked housing expert chandrashekhar prabhu in the island city for instance rehabilitation of all the 14000 old cessed buildings will require 30 crore sq ft of new construction including the free sale component he addedaneerudha paul director of kamla raheja vidyanidhi institute for architecture and environmental studies said certain areas have grown exponentially over the years the rcentral ward for instance which covers borivli is among the fastest developing areas it has the second largest number of buildings in the city at 28171 after andheri westdevelopment in mumbai is driven by market forces its a complex pattern of development over which city planners have no control over said paulduring the previous financial year the bmc assessed 25097 new properties across the city and this year it hopes to earn rs 5131 crore by way of property tax