April 5, 2024: The New Delhi Municipal Council (NDMC) declared a record revenue of Rs 3,795.3 crore for the financial year 2023-24 (FY24), marking a 15.11% increase from the previous fiscal year. According to the announcement, the urban body has surpassed its revenue collection target for the year.
The Council’s revenue sources encompass property tax, licence fees, commercial revenue (from water and electricity), and parking fees. Property tax collection amounted to Rs 1,025.59 crore, slightly below the target of Rs 1,150 crore for the year. Nonetheless, this figure reflects a 10.13% increase over the Rs 931.10 crore collected in the previous fiscal year, marking the first instance in NDMC’s history where property tax collection has exceeded the Rs 1,000 crore milestone.
NDMC is also tasked with providing electricity and water supply to its residents and service users within its jurisdiction. In FY24, the council garnered Rs 1,811.71 crore from these services, surpassing the target of Rs 1,659.95 crore. Notably, NDMC had collected commercial revenue of Rs 1,503 crore in FY22 and Rs 1,722 crore in FY23.
Additionally, the Council’s estate department accrued Rs 937 crore in licence fees, surpassing the target of Rs 825 crore. This compares to Rs 628.68 crore in FY23 and Rs 527.74 crore in FY22. Revenue generated from parking fees amounted to Rs 21 crore, exceeding the target of Rs 20 crore.
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