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Saturday, September 25, 2021

Relief for North MCD residents; no property tax for houses up to 50 square metres

The proposal will benefit about 3 lakh property owners, said former mayor Jai Prakash who had proposed it. The scheme will provide relief to the economically weaker sections who have been hit the hardest by Covid-19, said officials

By: Express News Service | New Delhi |
Updated: August 29, 2021 8:18:29 pm
The report released during the CREDAI-Pune Metro’s 38th Annual General Meeting provided scientific observations of the growth in the real estate market in different regions of Pune in terms of number of units sold, preferred unit size and price segment. (File)

The North Delhi Municipal Corporation (MCD) has approved a proposal to exempt houses measuring up to 50 square metres from paying property tax. The proposal, passed from the house of North MCD, is also believed to be aimed at garnering support for the party in the civic elections scheduled early next year.

This will benefit about 3 lakh property owners, said former mayor Jai Prakash who had proposed it. Leader of the House (LOH) Chhail Bihari Goswami said residential properties up to 50 square metres including those in approved colonies, rural areas and even unauthorised colonies, will be exempt from paying house tax to the corporation.

A senior official of North MCD said that the notification would come to effect by the next financial year. Anyway, most of such houses do not pay taxes as they are in unauthorised colonies, he said.

He added that the scheme has been proposed to provide relief to the economically weaker sections who have been hit the hardest because of the ongoing covid-19 pandemic. The benefit will accrue only to such owners who themselves are residing in such properties and have not rented it out to a tenant and where members of only one family are staying.

The North MCD has also approved a proposal to waive off property tax pending for past years for all commercial properties in unauthorised colonies. “These property owners are required to pay the tax just for the current and the previous financial years while the rest pending for past years will be waived off,” he said.

Also, the property tax rates for commercial properties that were hiked last year based on the recommendations of the Municipal Evaluation Committee-III too have been withdrawn. “This applies to all commercial properties under the civic body. They will have to pay the tax as per previously existing rates,” said a senior official. He added that all business has been hit because of the pandemic and the scheme will help them recover from losses.

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