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Property tax rates in Delhi are liable to go up considebrably

Tax Rates on Properties in Delhi are likely to rise

New Delhi, The rates for property tax may be a bit higher in Delhi in the event it is decided that the recommendation of the MCD’s Fifth Municipal Valuation Committee (MVC) is accepted, which suggests a 37 percent increase in the value of the unit base the officials said on the media on Wednesday.

Fifth, MVC has released their interim report on MCD and is now on the market for feedback and suggestions, they said.

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“Property tax” in Delhi is expected to increase slightly after implementing the five MVC. The report is still to be implemented, as public comments and suggestions are invited.

A notice for the public on this subject has also been issued,” MCD Director (Press) and Information Amit Kumar told PTI.

In addition, the municipal authority announced that the dimensions of the area of the base unit were suggested by the first MVC in 2004 and have continued as before over the past 18 years.

“Concentrating on the patterns of expansion utilizing different files, the panel has suggested expanding the base unit region esteem (UAV) by 37% which in any case is just a little piece of the ascent in genuine expansion seen during the most recent 18 years,” in a declaration from the public authority.

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The report stated it was the 5th MVC has recommended: “no change” in the current category of colonies. In light of the growing population over the last few years in Aerocity.

The MVC has suggested that the airport’s authority to take the region, which includes Aerocity as a separate colony, be placed in “D.”

Colonies within Delhi can be classified into eight categories, ranging between A and H.

The A and B categories comprise high-end zones, middle classes of C and D neighborhoods, middle-class neighborhoods, and colonies of G or H, which are not authorized.

Kumar stated that the base area for colonies in the A category would be increased by 800 instead of 630. For B-category colonies. This would be 680 instead of 500 and increased to 550 instead of 400 for C-category colonies.

The base unit’s area for D-category colonies also increased from 320 to 440. The E-category colonies will be 390 instead of 270 and raised to 310 instead of 300 for a colony in the F category.

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The size of this amount has been raised to 200 instead of 270 for G-category colonies and 140 instead of 100 for H-category colonies.

Kumar declared that the base area factor of the unit is one of the numerous factors utilized to calculate the tax on property for regions that fall within the jurisdiction of the MCD.

To encourage the sustainable and ecologically sound disposal of waste materials within cities.

The committee has suggested five percent of a cash rebate to these colonies or societies to dispose of 100% wet waste year-round. The statement said.

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