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The Municipal Valuation Committee (MVC) issued a report which recommends that quite a lot of colonies will be upgraded in Delhi. As result of this improvement the property tax rates of these colonies will increase.
The proposed plan of the Committee is based on the enhancement work done in these said colonies. Along with the colonies, commercial properties in the city will too have to pay increased property tax. The Municipal Corporation of Delhi (MCD) is working out a foreword that will be presented in the Standing committee of the MCD.
As quoted by the MCD officials, the first MVC that was presented in the year 2004 had positioned these colonies in various categories ranging from A to H. But the categorization of some of these colonies was lessened by a Hardship and Anomaly Committee created by MCD. According to MCD officials the proposals laid down the committee were put in practice and till date these colonies are disbursing smaller amount of property tax. But in its current report, the MVC-3 has rejected all the recommendations proposed by the Hardship and Anomaly Committee and brought back the suggestions made in MVC-1. Under this report, the residents of colonies who were enjoying the benefits after their category was let down, will have to pay increased property tax as their colonies will be upgraded as per the recommendations of MVC-1.
Almost 125 colonies in the city will be upgraded by one-type. Several irregularities came across these colonies. Since the year 2004, Delhi has witnessed lot of development but the MCD has not gained much in terms of revenue. This improvement process of colonies will surely help MCD acquire more revenue.
Commercial properties including five, four and three-star hotels, banquets, industrial areas will also have to shell out higher property tax rates. Five-star hotels will be paying the highest amount of tax as they have been made independent of their locations. Therefore, if a hotel falls in a category C location, the property tax that will be charged would be as per category A.
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