Latest News | NDMC's Revenue Collection for 2023-24 Fiscal Exceeds Target

New Delhi, Apr 3 (PTI) The New Delhi Municipal Council's revenues for the 2023-24 financial year exceeded its target, with property tax collection crossing the Rs 1,000-crore mark for the first time in its history, officials said on Wednesday.

The New Delhi Municipal Council (NDMC) collected a revenue of Rs 3,795.30 crore from receipt sources such as property tax, licence fees, commercial revenue (water and electricity) and parking fees, it said in a statement.

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For the first time in the NDMC's history, the revenue from property tax crossed the Rs 1,000-crore mark, it said.

"The NDMC has collected Rs 1,025.59 crore in property tax against a target of Rs 1,150 crore. The NDMC had collected property tax revenue of Rs 931.20 crore in 2022-23, Rs 950.75 crore in 2021-22 and Rs 690.78 crore in 2020-21," it added.

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During the 2023-24 fiscal, the NDMC collected Rs 1,811.71 crore in revenue from electricity and water supply against a target of Rs 1,659.95 crore. It had collected commercial revenue of Rs 1,503 crore in the 2021-22 and Rs 1,722 crore in the 2022-23 fiscals.

The NDMC also surpassed its target for licence fee collection for the fiscal. The estate department collected Rs 937 crore in licence fees against a revised target of Rs 825 crore.

The civic body's revenue collection from parking fees was Rs 21 crore against a target of Rs 20 crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)