CP traders asks for property tax rebate
The traders of Connaught Place in New Delhi have stated that they are facing up to 70 per cent losses in business due to municipality work going on in the area.
The traders have asked the New Delhi Municipal Corporation (NDMC) to increase their property tax rebate by 30 per cent.
Currently, the traders in the area get a 20 per cent rebate from NDMC. However, the traders have alleged that there has been a sharp fall in footfall due to pits that have been dug up all around in the marketplace.
Shops in Outer and Middle circles are the worst hit. The New Delhi Traders’ Association (NDTA) stated that most shops are not in a position to pay the property tax, which had gone up by up to 20 times after 2009. A shop paying Rs 2,000 as property tax earlier now has to pay Rs 2 lakh. Hence the traders’ body urged the relaxation of the payment of taxes till the market is restored.
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