{"id":5167,"date":"2022-01-31T15:27:56","date_gmt":"2022-01-31T15:27:56","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=5167"},"modified":"2022-01-31T15:27:59","modified_gmt":"2022-01-31T15:27:59","slug":"property-tax-rise-for-fy-2022-23-gets-rejected-by-the-south-delhi-civic-authority","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/property-tax-rise-for-fy-2022-23-gets-rejected-by-the-south-delhi-civic-authority\/","title":{"rendered":"Property tax rise for FY 2022-23 gets rejected by the South Delhi civic authority"},"content":{"rendered":"\n<p><em>In the Financial Year (FY) 2022-23, the South Delhi Municipal Corporation (SDMC) has chosen not to raise property taxes. <\/em><\/p>\n\n\n\n<!--more-->\n\n\n\n<p>It has also clarified that tax exemptions for properties in residential colonies, which were recently formalized, are still in effect. These properties&#8217; outstanding taxes will be forgiven.<\/p>\n\n\n\n<p>The South Delhi Municipal Corporation&#8217;s\n(SDMC) Standing Committee has rejected a proposal to raise property taxes for\nthe upcoming fiscal year 2022-23. The city council was presented with a\nproposal to raise taxes on commercial and residential buildings within its\nauthority. The organization also exempted newly regularized residential\nproperties from outstanding taxes. Commercial properties can also apply for an\nexemption if they have paid their dues for the previous three years.<\/p>\n\n\n\n<p>The Municipal Corporation has also\npartnered with the Indian Solar Energy Corporation to install solar panels on\nthe roofs of its offices. Such devices are capable of producing up to 10\nkilowatts of renewable energy.<\/p>\n\n\n\n<p>The increased budget for the fiscal year 2022-2023 is now Rs 4826.43 crore, up from Rs 4668.26 crore the previous year. One primary factor for such property tax freeze, according to SDMC officials, is the upcoming elections.<\/p>\n\n\n\n<p style=\"font-size:12px\"><em><strong>Disclaimer:&nbsp;<\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information<\/em>.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the Financial Year (FY) 2022-23, the South Delhi Municipal Corporation (SDMC) has chosen not to raise property taxes.<\/p>\n","protected":false},"author":2,"featured_media":5169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[35],"tags":[192],"class_list":["post-5167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-delhi","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Property tax rise for FY 2022-23 gets rejected by the South Delhi civic authority - Real Estate Sector Latest News, Updates &amp; 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