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SDMC proposes increase in property tax to boost revenue; AAP opposes

The proposal in the budget comes ahead of civic polls due next year

Real estate, loans, funds, investment, investors, realty, property

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4 min read Last Updated : Nov 23 2021 | 9:50 PM IST

Seeking to augment its revenue, the South Delhi Municipal Corporation on Tuesday proposed in its budget to increase property tax levied on residential and commercial properties, and reduce the number of rate slabs from three to two.

Residential, commercial and non-residential plots (of up to 150 sqm) are currently divided into three categories in the city -- 'A-B'; 'C-E' and 'F-H' categories.

"I propose that for the financial year 2022-23, the number of categories should be reduced from three to two -- 'A-E' and 'F-H'," Bharati said, while presenting revised budget estimates for 2021-22 and budget estimates for 2022-23 at the Civic Centre here.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)