New Delhi
The recommendations of the fifth Municipal Valuation Committee (MVC-V) that have been implemented from April 1 will be a huge relief to the tax payers of Delhi, Mayor Shelly Oberoi said on Saturday. She said multiplicative factors have been reduced for various categories including properties (residential and commercial), guest houses, banquet halls, wedding venues, educational institutes, farm houses, multiplexes and petrol pumps.
Occupancy factor for non-residential properties has been reduced from 2 to 1.25. Multiplicative factor for banquets reduced from 6 to 4. A special category has been added for barat ghar, community centre run by government and non-profit organisations with use factor 2, she said. She further said that use factor for private schools have been reduced from 3 to 2 and for paying guest hostels, it has been reduced from 4 to 2. Delhi Minister Saurabh Bharadwaj said the long-standing demands of the taxpayers have been fulfilled by implementing the recommendations of MVC-V.
