New Delhi Municipal Council achieves highest ever property tax collection in FY22

The New Delhi Municipal Council (NDMC) said that it has exceeded its revenue targets for the financial year 2021-22 with a net surplus of Rs 534.71 crores. On April 1, the NDMC had declared its provisional results for the financial year 2021-22.

It claimed that NDMC has achieved the highest ever collection of property tax and said it has maintained a continuous streak for the last few years as a financially well governed municipal organization.

According to an official statement, the results show increased receipts on both revenue and capital account. The total receipts are Rs. 4,019.08 crores, 5.37 per cent more than the revised estimates for the year.

“The collections show a significant growth on both revenue and capital accounts. The revenue receipts at Rs 3,494.21 crore are 4.73 per cent more than its revised estimates for the year and 11.76 per cent more than the actuals of the previous year. The capital receipts at Rs. 524.87 crore are also 9.84 per cent more than the revised estimates,” the statement read.

NDMC officials stated, the major contribution has come from the property tax collections which stand at the highest ever figure of Rs. 942.32 crore, 36.41 per cent more than the previous year’s collection and 47.6 per cent more than the collections in 2018-19. The statement said, “These results have been achieved in an otherwise less encouraging economic scenario in the last two years affected by COVID-19. NDMC had not increased the tax rates as also extended various reliefs and time extensions to their citizens during Covid times.”