Business Standard

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

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

NDMC

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

Press Trust of India New Delhi

Listen to This Article

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.

ALSO READ: AAP leader Sanjay Singh walks out of Tihar jail after nearly 6 months

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 03 2024 | 9:49 PM IST

Explore News