Slew of taxes unveiled in Delhi by East Corporation
Delhi-NCR- In an assumption concerning the trifurcation of Municipal Corporation of Delhi, the people of Delhi are expected to pay a heavy price.
The East Corporation in the month of December proposed its budget with a slew of new taxes with a raise in property tax as well as parking fees. As per an official, the raise in the tax was needed for strengthening the corporation’s financial position.
There have been warnings by the officials about the major infrastructure development suffering in case the taxes are not increased. A hike of 160 percent in the base unit area rates regarding the calculation of the property tax was witnessed by an East Corporation official. As per officials, since 2004, despite the increase in the inflation cost, the base unit area value has not been revised.
They also feel that the current property tax rates are inappropriate to the cost index. And that the corporation requires funds to move forward with the development work.
To create more new developments, the civic agency has proposed education cess and betterment tax as new taxes hiked up to 5 percent and 10 percent. The corporation also admitted that it has not created much developments but would like to impose betterment tax on the residents based on the fact that the property rates in Delhi have increased owing to the infrastructure development. The corporation’s coffers would gain an additional amount of Rs 33 crore.
Followed by the North Corporation, the East corporation will also hike the parking charges with four wheelers paying Rs 10 for the first 10 hours and Rs 20 after that. However, a charge of Rs 10 for the first half-an-hour, Rs 20 for up to one hour, Rs 50 for up to three hours and Rs 20 for per additional hour was proposed by the commissioner with the recommendations of a committee from the Delhi Government. The cars during the peak hours will be charged an additional 50 percent followed by changes in the two-wheeler rates.
Related Real Estate News:
MCD Delhi property tax guide: Pay your property tax online
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