EDMC to put hold on 3rd MVC report on revising property taxes

The East Delhi Municipal Corporation (EDMC) has decided to put on hold on the implementation of third MVC report recommendations proposing a hike in property tax rates due to opposition by local traders and industrialists, a senior official said today.
"The East Delhi Municipal Corporation (EDMC) has decided to keep implementation of third Municipal Valuation Committee (MVC) recommendations pending due to impediments being faced in this regard. A committee would be constituted which would look into various aspects of implementation of these recommendations and present its report to the House," East Delhi Mayor Satya Sharma said today.
As per the MVC report, a majority of industrial and commercial areas have been raised to higher category resulting in hike in property tax rates by big margins. This has led to opposition from most of the industrial and market associations in East Delhi, Sharma said.

Chairperson of the EDMC standing committee Lata Gupta said the decision to implement the MVC report recommendations was earlier taken under "pressure" as Delhi government had proposed it as one of the conditions for releasing funds to the corporation that desperately needed to pay salaries to its employees.
A number of issues have cropped up now at the time of implementation of the recommendations which need to be looked into, she said.
Property tax rates would rise by 4-7 times if MVC report is implemented, former mayor Harshdeep Malhotra said.