South Delhi residents fight against rise in property tax
Residents of certain south Delhi areas are fighting the upgrading of their colonies by the Municipal Valuation Committee IV.
The panel has classed Kailash Colony, Hauz Khas, Green Park Extension, Greater Kailash IV, Defence Colony, Pamposh Enclave, Panchsheel Enclave, Anand Lok, Chirag Enclave, Gulmohar Park and Safdarjung Enclave as A-category residential colonies rather than B.
For the residents, this means not only a 68% increase in property tax payable, but also a 300% jump in circle rates, a damper for sale or purchase of property.
Property transactions in this colony, categorised as A in 2007, have been hit after circles rates were upped in 2011 and even today while the market rate is around Rs 4.5 lakh per sq yard, the circle rate is higher at around Rs 5.4 lakh per sq.
Many residents have been running from pillar to post for 6-8 years now for permission to sell their properties at fair market value. They are unable to dispose of them due to the circle rate being much higher than the actual value of the property.