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  Metros   Delhi  06 Dec 2017  North Delhi will get special poster walls

North Delhi will get special poster walls

THE ASIAN AGE.
Published : Dec 6, 2017, 6:53 am IST
Updated : Dec 6, 2017, 6:53 am IST

“We hope with these measures, the North Delhi Municipal Corporation will be financially self-reliant by the end of the 2019,” the official said.

The North Delhi Municipal Corporation  (NDMC)’s budget estimates for 2018-19 were presented on Tuesday.
 The North Delhi Municipal Corporation (NDMC)’s budget estimates for 2018-19 were presented on Tuesday.

New Delhi: The North Delhi Municipal Corporation  (NDMC)’s budget estimates for 2018-19 were presented on Tuesday with the proposal of a single slab of 15 per cent for residential and 20 per cent for commercial property taxes.  Proposals for imposition of betterment and professional taxes were also presented. The corporation also proposed creating designated walls for putting up posters, seeking to prevent defacement of public properties through sticking of advertising material. NDMC presents 2018-19 budget estimates.

Presenting the budget, North Delhi Municipal Corporation (NDMC) commissioner Madhup Vyas proposed simplification and rationalisation of property taxes. There are eight categories of residential properties and taxes ranging from 7 to 12 per cent.

 

The proposed 15 per cent tax on residential properties will cover all these categories. For all categories of commercial properties, the current rate is 15 per cent, which is proposed to be enhanced to 20 per cent. The budget estimates to collect Rs 725 crore in 2018-19.

The rebate on one-time payment of property tax by June 30, is proposed to be slashed from the existing 15 per cent to 10 per cent. The body is also developing an interactive portal for property tax, and at present, details of 4.5 lakh properties have been digitised, the commissioner said.

In line with the recommendations of the second and third Delhi Finance Commission, a betterment tax at the annual rate of 15 per cent was proposed by the commissioner for financing infrastructure works, development of transportation facilities and redevelopment of colonies.

 

The professional tax would come under three categories of Rs 1,200, Rs 2,400 and Rs 2,500 per annum, he said, adding that a special cell would be formed to compare database and realise the tax from processionals living in the NDMC area.

“We hope with these measures, the  North Delhi Municipal Corporation  will be financially self-reliant  by the end of the 2019,” the official said.

However, the chairman of the standing committee of the BJP-ruled civic body, Tilak Raj Kataria said that the proposed taxes will be discussed thoroughly and a final decision would be taken keeping in mind the interests of the people.

Tags: ndmc, budget, property taxes
Location: India, Delhi, New Delhi