According to the new Parking Area Policy declared by the Ahmedabad Municipal Corporation (AMC) on October 11, 2023, malls and commercial complexes in the city that charge visitors for parking will now have to pay property tax for the dedicated parking space. The policy says that residential properties or commercial properties with free parking won’t have to pay property tax.
As per the new policy, the total runways space, for the to and from movement of vehicles in the parking space and access ramps in the basement, will be exempt from this tax. According to AMC’s calculations, the total runway space takes up approximately 35% of the total dedicated parking space.
AMC also said that since there was no clear property tax policy, certain commercial properties were exempted from tax by the zonal property tax assessors. Various field visits helped officials realise the discrepancies in certain municipal zones. The new policy aims to bridge the gap the older policy missed. A circular has been sent to zonal offices for immediate implementation.
In cities like Ahmedabad, where there is an increasing number of vehicles and shrinking spaces to park the vehicles, this move may prompt people to provide free parking at building complexes.
Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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