May 10, 2024: The Ghaziabad Municipal Corporation (GMC) has begun the assessment of house tax for the FY 2024-25 based on the revised rates, ranging from Rs 3.5 square foot (sqft) to Rs 4 per sqft, depending on factors such as the width of the road in front of the property and its location. A new rental value structure for determining the property tax on households has come into effect in Ghaziabad from April 1, 2024.
According to a GMC official, the criteria primarily determining the new tax slab will include the DM circle rate, the width of the road outside the house and its location. For properties with a road width of less than 12 metres, the house tax will be 3.5 per sqft compared to the earlier rate of Rs 1.61 per sqft. Similarly, properties with road widths ranging from 12 metre to 24 metre will now have a tax rate of Rs 3.75 sqft, as opposed to the previous rate of Rs 2 per sqft, as mentioned in a TOI report.
Furthermore, areas with higher DM circle rates will also influence house tax rates. For example, Kavinagar’s DM circle rates are higher than the circle rates in Shaheed Nagar. On average, there will be an annual increase of Rs 4,000 to Rs 5,000 in house taxes, the official said, as cited in the media report.
As per a GMC survey, the number of properties in the city has increased from 4.5 lakh to 6.3 lakh. This indicates a potential increase in the corporation’s revenue of Rs 60 crore. The GMC earlier announced higher tax rates in January 2024.
Category A represents affluent localities while categories B and C are designated for areas that are relatively less developed. These areas have been categorised basis several criteria with the width of the road in front of the house as a prominent factor.
The survey included vacant plots for assessment purposes. Moreover, property tax on industrial establishments will be calculated under Category C, where the tax slab is lower, with the aim of promoting growth in the industrial sector.
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Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
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