MC approves 10 per cent hike in property tax

Story By: Rajesh Sharma
Friday, September, 01 2017 - 14:19

Chandigarh Municipal Corporation on Wednesday approved 10 per cent hike in property tax on commercial, industrial and institutional land and buildings. 
Without revising the rates for more than 10 years, the MC has lost Rs 92.04 crore in revenue.

“With the increase in rental value of commercial properties, Chandigarh Municipal Corporation was required to revise the rates of rent for rental buildings at least once in five years. But, the MC Chandigarh did not revise the rates of rent for rented commercial buildings in different zones, which were fixed at the time of beginning of the property tax scheme in 2003, for calculation of annual rental value of a property and then property tax,” the authorities observed at the general house meeting.

Mayor Asha Jaswal said she had to go for the increase as she could not allow the civic body to go bankrupt.


Home > Business >
Previous Story
Next Story
Add Comment

Dangal’s star Zaira Wasim
Bollywood's highest grossing film to date Dangal’s star Zaira Wasim, 17, has accused a 39-year-old Vikas Sachdev of molesting her during a Vistara Delhi-Mumbai flight on Sunday. The teen actress said a man sitting behind her had repeatedly moved his foot up and down her neck and back while she was "half-asleep".Ms Wasim had accused the...

Media Video
Manage Newsletter About Us
Contact Us