NDMC's revenue collection for FY24 stands at Rs 3,795 cr, exceeds target

The New Delhi Municipal Council's revenues for the 2023-24 financial year exceeded its target, with property tax collection crossing the Rs 1,000-crore mark for the first time in its history, officials said on Wednesday.

The New Delhi Municipal Council (NDMC) collected a revenue of Rs 3,795.30 crore from receipt sources such as property tax, licence fees, commercial revenue (water and electricity) and parking fees, it said in a statement.

For the first time in the NDMC's history, the revenue from property tax crossed the Rs 1,000-crore mark, it said.

"The NDMC has collected Rs 1,025.59 crore in property tax against a target of Rs 1,150 crore. The NDMC had collected property tax revenue of Rs 931.20 crore in 2022-23, Rs 950.75 crore in 2021-22 and Rs 690.78 crore in 2020-21," it added.

During the 2023-24 fiscal, the NDMC collected Rs 1,811.71 crore in revenue from electricity and water supply against a target of Rs 1,659.95 crore. It had collected commercial revenue of Rs 1,503 crore in the 2021-22 and Rs 1,722 crore in the 2022-23 fiscals.

The NDMC also surpassed its target for licence fee collection for the fiscal. The estate department collected Rs 937 crore in licence fees against a revised target of Rs 825 crore.

The civic body's revenue collection from parking fees was Rs 21 crore against a target of Rs 20 crore.