NEW DELHI: The cash-strapped EDMC will offer exemption from enhanced property tax till July 31 on account of implementation of the 3rd Municipal Valuation Committee (MVC) report, officials said on Wednesday.The announcement was made by Leader of house in East Delhi Municipal Corporation Nirmal Jain.
As per the provisions, commercial and non-residential properties of 139.35 sq meter or more, that fall under A Category, are granted exemption equivalent to pre-existing MVC-I, the EDMC said in a statement.
Jain also said that along with the exemption, an extension of rebate period on prompt payment, has also been offered till July end.
The rebate is also offered on all industrial properties of B category as per the recommendations of MVC-I.