Tag: Property tax in Delhi

Latest StoriesRegulatory

Delhi Extends Property Tax Rebate Deadline to July 31

NEW DELHI: The Municipal Corporation of Delhi (MCD) has extended the deadline for property owners to secure a 10% rebate on the lump-sum payment of property tax for the fiscal year 2026-27 until July 31, officials announced on Tuesday. Delhi Mayor Pravesh Wahi stated that the extension aims to benefit more taxpayers, particularly those who were unable to pay their property tax by the original deadline. Initially, the rebate was available for payments made by June 30. Wahi emphasized that this decision is designed to ease the tax payment process for residents and promote timely payments of property taxes. “This…

Latest StoriesRegulatory

Delhi Civic Revenue Soars 17% to ₹14,549 Crore in 2025-26

NEW DELHI: The Municipal Corporation of Delhi (MCD) achieved its highest annual revenue of Rs 14,549.06 crore for the financial year 2025-26, marking a 17.27% increase from the previous year, as reported by officials on Tuesday. According to MCD standing committee chairperson Satya Sharma, total revenue soared from Rs 12,406.75 crore in 2024-25 to Rs 14,549.06 crore in 2025-26, representing an increase of Rs 2,142.31 crore. “MCD’s own revenue rose from Rs 9,400.20 crore to Rs 11,239.24 crore during this period, indicating a growth of 19.56%. Additionally, revenue and grants from the Delhi government climbed from Rs 2,983.87 crore to…

Latest StoriesRegulatory

Delhi: NDMC Extends 10% Property Tax Rebate by June 30

NEW DELHI: The New Delhi Municipal Council (NDMC) announced on Saturday a 10% rebate on property tax for the fiscal year 2026-27. This rebate is available to taxpayers who settle their dues by June 30. The civic body encourages property owners in its jurisdiction to take advantage of this rebate by making timely payments through its online portal or through other approved payment methods. The rebate initiative has been a consistent part of the NDMC’s property tax collection strategy in recent years, aimed at promoting early payments and enhancing revenue collection. A similar 10% rebate was also offered last year…

Latest StoriesResidential

Delhi’s NDMC Residents to Get Uniform Property Tax Soon

NEW DELHI: Residents within the New Delhi Municipal Council (NDMC) area will soon be subject to a unified property tax system, as the civic body has completed the necessary bye-laws and technical preparations for a new assessment method, officials announced on Thursday. Officials indicated that the NDMC has modernized its online property tax platform and conducted tests with the National Informatics Centre, setting the stage for the implementation of changes to the outdated rateable value-based assessment approach. A Municipal Valuation Committee is set to be established shortly, after which it is anticipated that the revised framework will come into effect…

Latest StoriesRegulatory

Delhi extends property tax amnesty deadline to April 30

NEW DELHI: The Municipal Corporation of Delhi has extended the deadline for the Property Tax Amnesty Scheme 2025-26 to April 30, as announced by the Delhi Mayor on Tuesday. Mayor Raja Iqbal Singh stated that the extension was granted due to the positive response from the public, allowing more taxpayers to resolve their outstanding dues under the Sumpattikar Niptaan Yojana (SUNIYO) scheme. He encouraged property owners and occupiers to take advantage of this “golden opportunity” to settle their liabilities without incurring interest or penalties. The mayor confirmed that the scheme will not be extended beyond April 30. Under SUNIYO, taxpayers…

IndustryLatest Stories

NDMC Tax Reform Could Slash Property Tax by 50% in Delhi

NEW DELHI: The New Delhi Municipal Council (NDMC) announced on Monday that implementing the Unit Area Method (UAM) could lower property taxes by 30 to 50%, particularly benefiting older, self-occupied properties. This initiative is part of key amendments in the Jan Vishwas (Amendment of Provisions) Bill, 2026, introduced by Minister of State for Commerce and Industry Jitin Prasada in the Lok Sabha on Friday. The bill seeks to amend several provisions of the Delhi Municipal Corporation Act, 1957. NDMC Vice-Chairperson Kuljeet Singh Chahal emphasized that UAM could provide significant relief for older properties and allow for separate assessments of different…

IndustryLatest Stories

Jan Vishwas Bill: New Property Tax System for NDMC Areas

Representative image NEW DELHI: The government has proposed a new property tax framework for the New Delhi Municipal Council (NDMC) areas, easing criminal provisions for minor offences while tightening enforcement for tax violations. This is part of the Jan Vishwas (Amendment of Provisions) Bill, 2026, introduced in the Lok Sabha on Friday by Minister of State for Commerce and Industry Jitin Prasada. The bill suggests a complete overhaul of the tax structure under the NDMC Act, 1994. It establishes that property tax will now consist of two components: building tax and vacant land tax, replacing the original Section 61. To…

Latest StoriesRegulatory

Delhi: MCD Seals Keshavpuram Properties Over ₹1.33 Crore Tax Dues

NEW DELHI: On Wednesday, the Municipal Corporation of Delhi sealed two commercial properties in the Keshavpuram zone due to alleged non-payment of property tax dues exceeding ₹1.33 crore, according to an official statement. This action is part of the civic body’s ongoing initiative against property tax defaulters. The properties, situated in Paschim Vihar and the GT Karnal Industrial Area, reportedly had substantial outstanding property tax dues. Despite multiple opportunities provided by the MCD to settle the dues, the property owners did not comply, leading to the initiation of coercive action under the Delhi Municipal Corporation Act. Officials encouraged the property…

Latest StoriesRegulatory

Delhi’s Property Tax Collection Hits Record ₹2,700 Crore

NEW DELHI: The Municipal Corporation of Delhi (MCD) has achieved a record property tax collection, exceeding Rs 2,700 crore by December 31 for the 2025-26 financial year. This represents a significant increase of approximately 45% compared to the same period last year, according to officials’ statements made on Saturday. Officials noted that this growth was accompanied by a notable rise in the taxpayer base. The number of registered property taxpayers grew from 10.31 lakh in 2024-25 to 12.43 lakh this year, reflecting an increase of nearly 21%. Civic officials attributed this surge to enhanced taxpayer engagement, stricter enforcement, and favorable…

Latest StoriesRegulatory

NDMC unveils surplus budget for 2026-27; no property tax increase

NEW DELHI: The New Delhi Municipal Council (NDMC) announced a surplus budget for the 2026-27 fiscal year on Wednesday, projecting a net surplus of Rs 143.05 crore. During the budget announcement, the council outlined its intent to install 2,000 CCTVs throughout Lutyens Delhi, while confirming that property tax rates will remain unchanged. Presenting the budget at a special council meeting, NDMC Chairman Keshav Chandra stated that for 2026-27, the council anticipates total receipts of Rs 5,953.07 crore and total expenditure of Rs 5,810.02 crore, continuing its tradition of surplus budgeting. Chandra also highlighted plans for adding over 2,000 CCTV cameras…