The civic body on Wednesday said the property tax rates are likely to be hiked after the Fifth Municipal Valuation Committee (MVC) submitted its interim report to the Municipal Corporation of Delhi (MCD) recommending changes in the base unit area value.
The primary function of the MVC is to make recommendations to the civic body regarding the classification of vacant lands and buildings into colonies and lands and buildings in city wards. It also helps in the determination of the base price per unit area of vacant land and factors such as its increase or decrease or vice versa.
“The base unit area value recommended by the MVC earlier in 2004 has remained unchanged over the past 18 years. Studying the inflation trends using various indices, the committee has recommended a 37% increase in the base unit area value, which is otherwise only a tiny fraction of the growth in real inflation observed during the last 18 years. The MVC has recommended no change in the existing classification of colonies.
In addition, the committee recommended the use of GIS mapping and artificial intelligence to increase transparency, effectiveness and efficiency in the administration of property tax, while also recommending a 5% exemption to colonies for 100% wet waste disposal during the entire period. . year to encourage sustainable disposal of waste.
The MCD said it has issued a public notice seeking objection to the recommendations in the interim report, which has been uploaded on the civic body’s website. mcdonline.nic.in.,