Sunday, July 14, 2024

Ghaziabad Considers House Tax Revision from April 2024

Ghaziabad homeowners may face an annual increase of up to Rs 5,000 in house taxes starting from April 2024. The civic corporation is considering aligning property taxes with the DM circle rate, determined by road widths in different localities. If implemented, the revised taxation rate will range from Rs 3.5 to Rs 4 per sq ft, compared to the existing Rs 1.61 to Rs 2.45 per sq ft.

Some councillors oppose the proposed revision, citing a recent 10% hike in rates, deeming a second increase unfair to homebuyers. Mayor Sunita Dayal plans to discuss the matter with the state government.

According to an official from the Ghaziabad Municipal Corporation (GMC), the DM circle rate, road width, and property location are key factors in determining the new tax slab. For road widths less than 12m, the proposed house tax rate will be Rs 3.50 per sq ft, up from the current Rs 1.61/sq ft. In areas with road widths between 12m and 24m, the new rate would be Rs 3.75/sq ft, compared to the current Rs 2/sq ft. For roads wider than 24m, the slab would be Rs 4/sq ft, up from Rs 2.45/sq ft.

Properties near highways or arterial roads, such as Crossings Republik, may experience a steeper tax hike than areas like Siddharth Vihar. The anticipated average annual increase in house tax is around Rs 4,000 to Rs 5,000.

A 10% house tax increase was already applied to 4.28 lakh properties last year. Some councillors argue against aligning house tax rates with the circle rate, stating it would burden residents further. Mayor Sunita Dayal opposes the tax hike and intends to address the issue with the state government to maintain the current tax rate.

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