New Delhi: With the Corporate Finance of the South Delhi Municipal in Doldrums, his commissioner proposed a 2-5% tax rate increase for residential, commercial and non-housing properties.
But the budget Tuesday became the last before the city election in 2022, the deliberative wing of the Civic body could not disappoint voters by agreeing to higher taxes.
The budget for 2022-23 proposes to divide all the properties of housing categorized in two plates, A to E and F to H, and charge a fee of 14% of the annual value as tax in the first order and 12%.
At present, the tariff is 12% in category A and B, 11% in category C to E and 7% on F to H.
For non-residential and commercial properties, the proposal is to place a tax rate at 15% for property in the AD category.
Until now, this figure is 15% for categories A and 12% for c and D categories.
Property tax on commercial, non-residential property in category E, F, G and H is proposed to be raised to 12% of the 10% there is.
Commissioner Gyanesh Bharti said, “We hope to increase the income from property tax by 15% after applying this increase.
It is important to bring the civil body out of the deep financial crisis.
If not implemented, SDMC will face a serious problem in paying a timely salary.
“Hiking property tax will bring Rs 1,445 Crore in 2022-23 against Rs 1,260 Crore on 2021-22.
There is also a proposal to add hotels, motels, company guest houses, district centers, malls, and shops in the complex and DMRC restaurants without bar facilities to a list of property charged taxes at 20% than there are 15%.
The proposal also includes reducing 15% of the neglect of property tax payments before 30 to 10% and reduces 30% rebates given to senior citizens, citizens and women up to 20%.
Likewise, for Payment of LumpSum from advance tax with the cooperative group housing group, the budget proposes to reduce incentives from 20% to 10% and end the 10% rebate given to DDA and CGHS meters to 100 Km square.
Bharti said, “We will also appeal to the Delhi government to reduce the task of transfer from 3% to 1% applicable.” Bharti claims that SDMC is looking at all sources of income generation.
“We implemented a policy to install a cellular towers in 2020 and until October 2021 we produced RS 15 Crore from 117 sites.
Revenue from advertising fell from RS 170 Crore proposed to RS 90 Crore because of a pandemic.
We now hope to generate higher income By allocating space for LED / digital ads in 13 more markets, “said Bharti while presenting the SDMC budget.
Bharti also said, “The tender for the construction of parking facilities for 238 cars in GK II, 81 at Amar Colony and 225 near the Punjabi Bagh cremation center will soon be invited.
Such space has also been identified on Jalan Punjabi Bagh Club and B-1 Janakpuri.”
SDMC proposed to raise property taxes of 2-5%
