Ndmc Decides Not To Hike Property Tax, Real Estate News, ET RealEstate

January 1, 2024
2 mins read
delhi ndmc decides not to hike property


NEW DELHI: The New Delhi Municipal Council (NDMC) on Wednesday presented a projected budget surplus of Rs 240.2 crore and a revenue of Rs 5,069.6 crore for the year 2024-25.

“In our budget for 2024-25, the total expenditure is more than our revised estimate figures for the current year and the receipts are higher than that of the revised estimate, leaving us with a surplus. We approach the next financial year towards making NDMC an aspirational city and global benchmark befitting its status as the national capital of ‘Viksit Bharat’,” said council chairman Amit Yadav.

While there is no proposal to hike property tax rates in the budget, the council targets to increase revenue collection by property tax, which is projected to be Rs 1,150 crore in FY 2024-25. Revenue collection from licence fee is expected to be Rs 825.11 crore in the year 2024-25, which is the same as proposed.

Beginning next year, NDMC will implement geo-tagging for all properties as part of its tax reforms. “Geo-tagging will mandate uploading photos of taxpayers’ properties through a mobile app or the NDMC website for easy identification and tracking,” said Yadav.

Taking additional measures to combat air pollution, a policy to switch to electric vehicles in a phased manner will be introduced and more e-charging points will be added, the chairman said. NDMC also plans to adopt green bonds. According to officials, the process has commenced with the identification of merchant bankers.

The council will also hire small electric mechanised vehicles for narrow lanes and spaces where big machines are unable to reach, Yadav said. Under the ‘One Day, One Road’ programme, intensive cleaning and washing of roads, footpaths and trees will be carried out. “Our estimate is that within three months, all roads will be covered and after three months, the same cycle will start from the first road,” he added.

For the first time, NDMC has created an ‘innovation fund’ to facilitate new and pioneering technologies. A pilot project under the fund has been initiated to clean the partial opening of Kushak drain between 11 Murti SP Marg and Kemal Ataturk Marg, a distance of about 2km. “It is proposed to use this fund for a long-term solution to ensure that no untreated water flows into Kushak drain,” stated the budget, adding that the work will be undertaken by IIT Kanpur.

For the education sector, NDMC plans to start distributing tablets to students of Class 9 from next year. So far, this facility was only for students of classes 10, 11 and 12. Officials said about 9,000 tablets will be distributed.

To facilitate local initiatives, the council has proposed to allocate Rs 10 crore in ‘untied funds’ for resident welfare associations (RWAs) and market trade associations (MTAs) under NDMC area for the year 2024-25.

To enhance aesthetics and add colour to the city landscape, NDMC has procured two lakh tulip bulbs for this winter season. “The council has taken steps to ensure that the bulbs are propagated and produced within the country. In the coming years, we hope to not only reduce their import, but also encourage Make in India,” said the NDMC chairman.

  • Published On Dec 28, 2023 at 09:14 AM IST

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