EDMC aims to boost tax revenues
East Delhi Municipal Corporation (EDMC) is to send property tax notices to over six lakh properties under its authority as it is having a financial crunch.
The corporation did not have a database on the number of properties liable to pay taxes in East Delhi, therefore, it turned to power discoms and the data received was shocking.
With the EDMC making efforts to bring maximum properties under tax net, it is expecting the earnings through property tax to go up to Rs 500 crore from Rs 120 crore.
By regularizing illegal colonies with the help of the urban development ministry, EDMC’s revenues are also expected to be spurred.
Owing to politics of populism, no property tax is being charged from those who live in properties at illegal colonies.
Now the data is available, notices will be sending to all property owners including government departments and NGOs in the area.
To read more real estate news:
Corruption to be blamed for high prices in Mumbai realty sector
Source: Hindustan Times
East Delhi Municipal corporation, EDMC, Illegal colonies, NGO, power discoms, property tax, Realty News, Revenues, Urban development ministry
