The Times of India 15.06.2010
Delhi property tax set to rise sharply
NEW DELHI: The Delhi government's decision to increase the circle rates might prompt the Municipal Corporation of Delhi to revise its property tax rates upward too.
Experts feel as the circle rates have been increased by up to around 200% in certain areas, the property tax will be revised by around 100% in these areas. However, where the circle rate increase is not very steep, the revision in property tax could be lower.
In Delhi, property tax is fixed on the unit area basis. As the property prices are high in the posh areas - which are kept in the higher categories - the circle rates are fixed at a higher rate. Similarly, the property tax rates in those areas are also pegged at higher levels.
Experts feel as the circle rates have been increased by up to around 200% in certain areas, the property tax will be revised by around 100% in these areas. However, where the circle rate increase is not very steep, the revision in property tax could be lower.
In Delhi, property tax is fixed on the unit area basis. As the property prices are high in the posh areas - which are kept in the higher categories - the circle rates are fixed at a higher rate. Similarly, the property tax rates in those areas are also pegged at higher levels.
