NDMC: No property tax hike in Rs 463.40 crore surplus Budget

NEW DELHI: New Delhi Municipal Council (NDMC) Chairman Keshav Chandra on Wednesday presented a surplus Budget for the financial year 2025-26, projecting a net surplus of ₹463.40 crore.

- SURUCHI KUMARI

The total receipts for the year are expected to touch ₹5,770.60 crore, marking a substantial rise from ₹5,319.75 crore in the revised estimates of the current fiscal.

In his Budget speech, Chandra outlined the council's commitment to sustainable urban growth, announcing a projected expenditure of ₹5,307.20 crore for the upcoming fiscal year. He highlighted that the total receipts for the year include ₹5,100.32 crore in revenue receipts, an increase from ₹4,730.31 crore in 2024-25, alongside ₹670.28 crore in capital receipts. The Budget also prioritises the development of essential civic amenities such as water supply, sanitation, and green infrastructure; while not increasing property taxes which is its major source of revenue generation.

Chandra noted that NDMC aims to continue its focus on urban renewal and improving the quality of life for residents through key projects. "This Budget reflects our ongoing efforts to transform New Delhi into a sustainable, safe, and inclusive city. We are investing in cleaner, greener technologies, while also addressing the needs of our most vulnerable communities," he said.