New Delhi, Apr 22 (PTI) The recommendations of the fifth Municipal Valuation Committee (MVC-V) that have been implemented from April 1 will be a huge relief to the tax payers of Delhi, Mayor Shelly Oberoi said on Saturday.
She said multiplicative factors have been reduced for various categories including properties (residential and commercial), guest houses, banquet halls, wedding venues, educational institutes, farm houses, multiplexes and petrol pumps.
“Occupancy factor for non-residential properties has been reduced from 2 to 1.25. Multiplicative factor for banquets reduced from 6 to 4. A special category has been added for barat ghar, community centre run by government and non-profit organisations with use factor 2,” she said.
She further said that use factor for private schools have been reduced from 3 to 2 and for paying guest hostels, it has been reduced from 4 to 2.
Delhi Minister Saurabh Bharadwaj said the long-standing demands of the taxpayers have been fulfilled by implementing the recommendations of MVC-V.
The MVC-V tried to address all grievances relating to assessment of properties and has taken many progressive steps by rationalising the multiplicative factors, the Municipal Corporation of Delhi said in a statement earlier.
In order to encourage scientific disposal of solid waste in the city, the Committee introduced an environmental factor and announced 5 per cent rebate to such colonies / societies for undertaking scientific disposal of 100 per cent wet waste throughout the year, the MCD said.
“Although, there appears to be valid reasons for upward revision in UAV, but taking into account the increase in property taxes of the years, the current economic situation and the household suffering from stress emanating from a global pandemic which resulted in loss of lives and livelihood, the Committee agrees with the objections of the stakeholders and, hence, recommends that there should be no increase in the UAV in the present scenario,” the statement said. PTI ABU CK
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.