Section 3(2) in The Maharashtra Tax on Buildings (With Larger Residential Premises) (Re-Enacted) Act, 1979
(2)No tax shall be leviable in respect of any residential premises, if situated in Greater Bombay, where the floorage is 125 square metres or less or the rateable value thereof is rupees one thousand and five hundred or less, and if situated in any other Corporation area, where the floorage is 150 square metres or less or the rateable value thereof is rupees one thousand and five hundred or less.
