Property tax hike unlikely to get a nod

To ensure that Delhiites are not overburdened by the rise in property tax as proposed by the MCD commissioner, the Standing Committee of the civic body has decided to reject the proposal in the budget meeting on Wednesday. HT reports.

To ensure that Delhiites are not overburdened by the rise in property tax as proposed by the MCD commissioner, the Standing Committee of the civic body has decided to reject the proposal in the budget meeting on Wednesday.

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According to sources, while residential areas have been exempted from the hike, commercial areas will have to shell out more money. MCD will accept the proposal made by the Municipal Valuation Committee (MVC) that had proposed a steep hike in property tax.

The MVC had planned to make five-star hotels, high-end schools and other such properties independent of their geographical location, which means even if they are located in far-flung areas, they will have to pay as much tax as those in posh colonies do.

“We had increased property tax last year. So, we have decided not to increase it this year. But to ensure that our tax collection doesn’t dip and to increase revenue collection, we will accept the suggestion made by the MVC,” said Yogender Chandolia, chairman, Standing Committee.