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Relief To Owners And Occupiers Of Shops, As SDMC Strikes Down The Hike In Property Tax

Courtesy/By: Snigdha Kashyap | 04 Jul 2018

The South Delhi Municipal Corporation (SDMC) struck down the hike in property tax on properties constructed on plots smaller than 150 square meters extending relief to owners and occupiers of shops, offices and showrooms.

Taxes are now levied for commercial properties at 15% for categories A and B, 12% for C,D and F and 10% for categories E, G and H as per fiscal year 2017-18. This roll back has resulted in loss if Rs 35crore to the civic body. “Those who have paid the hiked taxes will get their money adjusted for fiscal year 2019-2020,” said Shikha Rai, Chairperson of Standing Committee SDMC.

Following the footsteps of SDMC, East Delhi Municipal Corporation (EDMC) also announced the roll back of the hike. “Commercial and non-residential properties of 139.35 sqm or more will be granted exemption tantamount to Municipal Valuation Committees first recommendations.

EDMC has also extended their deadline from June 30 to July 30 for filing property tax.

Courtesy/By: Snigdha Kashyap | 04 Jul 2018