Conversion charge now one-time affair in Delhi

Conversion charge now one-time affair in Delhi
02/07/2018 , by , in News/Views

With Delhi Development Authority notifying changes in Master Plan Delhi 2021, there is a big relief for traders. The new amendments make conversion charges a one-time payment instead of once every year. Traders who have paid the annual charges for a period of 10 years are now exempt from the burden. They are, however, not too happy at having to pay newly added charges for the use of basements.
The sealing drive had been, in the main, prompted by violation of rules on payment of charges for using residential buildings for commercial use and these amendments, civic officials hoped, would prevent evasion of payment of such charges.

Earlier, for A & B category colonies, a shop paid an annual Rs 767 per square metre as conversion charge, but will now be required to shell out a one-time fee of Rs 6,136 per square meter. “Traders will get a rebate for two years through the one-time payment of conversion charges. Traders who have paid conversion charges for a period of 10 years do not have to pay anything more,” explained an official of the South Delhi Municipal Corporation. For local shopping complexes, the one-time charge has been finalised at Rs 22,274 per square metre in A & B category colonies, Rs 14, 839 in C & D categories and Rs 5,576 in E, F, G and H category colonies.

“In case there is a delay in payment of the charges within a period of six months, an interest of 8% per annum will be levied on the owners,” the amendment states. Basement charges are also a part of the new rules. The sealing drive had especially targeted shops operating from basements.

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