MCD gets Rs1,500 cr in property tax | delhi | Hindustan Times
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MCD gets Rs1,500 cr in property tax

After renewed efforts at generating more income, the Municipal Corporation of Delhi (MCD) has managed to collect Rs1,500 crore as property tax this year. The tax also includes transfer duty, which has nearly doubled in a year's time.

delhi Updated: Apr 13, 2011 01:18 IST
HT Correspondent

After renewed efforts at generating more income, the Municipal Corporation of Delhi (MCD) has managed to collect Rs1,500 crore as property tax this year. The tax also includes transfer duty, which has nearly doubled in a year's time.

Chairman of MCD's standing committee, Yogender Chandolia - who will soon be re-elected to the chairman's post - said the civic agency was able to collect additional tax because of the efforts made in that direction by the property tax department.

Chandolia said the number of tax-payers also increased this year - from 9.8 lakh last year to 10.4 lakh.

"This is an all-time record for property tax collections. The gross collection as on March31, 2011, was Rs1,500 crore. As compared to this, the gross collection during the financial year 2009-10 was Rs1,158 crore. Thus, MCD has been able to collect 29.5% more property tax this year as compared to the last," said Chandolia.

According to the MCD, the total property tax grew by Rs342 crore. The transfer duty during 2010-11 was Rs728 crore as compared to Rs460 crore in 2009-10.

The property tax collection during 2010-11 was Rs772 crore, as compared to the Rs697 crore during 2009-10.

However, despite the increase in numbers, the civic agency has not been able to meet the targets they had set. Earlier, the MCD had kept a target of Rs1,050 crores in terms of property tax, excluding the transfer duty.

The growth in collection of property tax collection was 10.6%, said Chandolia. Also, 60,000 more property taxpayers were brought within MCD's property tax net.

To meet the targets, the MCD had made public the names of tax defaulters by putting up the list on its website and in newspapers.

To further increase its collections, the civic body now plans to auction of properties that are not paying the fee.