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Property tax hike, redevelopment of Meherchand Market proposed in SDMC Budget

Press Trust of India  |  New Delhi 

Hike in property tax, levying professional tax, redeveloping an old mart and pedestrianisation of streets in market areas lacking facilities were proposed by the BJP-led South Municipal Corporation in its budget on Tuesday.

South Municipal said this while presenting the SDMC's revised budget estimates for 2018-19 and budget estimates for the year 2019-20 at the here.

"We plan to increase the earnings of the corporation through various avenues, and one of them is hiking of property tax, which we have proposed in the budget. There is also a provision to levy a professional for the year 2019-20, from which an income of Rs 30 crore is expected for that year," Goel said.

The proposed revised budget estimates for the current financial year stands at Rs 5,244.14 crore, while the budget estimates for the next fiscal has been proposed to be Rs 5437.97 crore.

In the budget 2019-20, it has been proposed to levy property on residential properties according to various category of colonies.

The proposed rates for residential properties falling under categories A and B is proposed to be at 14 per cent, instead of 12 per cent; for categories C, D and E, it would be 12 per cent instead of 11 per cent; and eight per cent instead of seven in F, G and H category colonies.

It is also proposed to charge property at the rate of 15 per cent of annual property value for special commercial non-residential properties and other non-residential properties.

Later, interacting with reporters, Goel said about 6.44-lakh properties were surveyed through a door-to-door survey from September 2017-May 2018. The exercise resulted in the identification of 1.83-lakh properties, which were out of net, he said, adding that the idea was to bring them into the tax net.

Among other proposals, the also proposed to provide one-time rebate on payment of at a rate of 10 per cent instead of 15 per cent. The budget has also proposed a one per cent education cess.

Other proposals include redevelopment of the Meherchand Market, an upscale commercial zone in Lodhi Colony, and pedestrianisation of streets in market areas which lack facilities.

"The redevelopment plan of the Meherchand Market has been sent to the technical committee of the Development Authority (DDA)," Goel said.

The focus in the budget this year is on education and public health, besides completing projects proposed earlier, including 20 new automated multi-level at different places, the said.

The commissioner added that 26 sentinel hospitals had been identified for monitoring vector-born diseases like dengue and chikungunya.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 04 2018. 20:25 IST