Revenue collection by New Delhi Municipal Corporation (NDMC) for fiscal year (FY) 2023-24 has exceeded targets as it collected record revenue of Rs. 3795.30 crore from the receipt sources of Property Tax, Licence Fee, Commercial Revenue (Water and Electricity) and Parking Fee.

Giving details here on Wednesday, officials said NDMC is steadily increasing its Property Tax collection without any increase in rate of property tax. First time in history of civic body, the Property Tax revenue collection crossed the Rs. 1,000 crore mark. NDMC has collected Rs. 1025.59 crore in property tax against the target of Rs. 1,150 crore.

NDMC collected the Property tax revenue of Rs. 931.20 crore in FY 2022-23, Rs. 950.75 crore in FY 2021-22 and Rs. 690.78 crore in FY 2020-21. As regards Commercial Revenue, during the FY 2023-24, in electricity and water supply, NDMC collected Rs. 1,811.71 crore against the target of Rs. 1,659.95 crore. NDMC collected the Commercial Revenue of Rs. 1,503 crore in FY 2021-22 and Rs. 1,722 crore in FY 2022-23.

NDMC also surpassed the target of Licence Fee collection for the FY 2023-24. Estate Department has collected the Licence Fee of Rs. 937 crore against the RE target of Rs. 825 crore. This is the first time that the Estate Department has not only achieved the RE of Rs. 825 crore but set a new benchmark against the collection figures of Rs. 628.68 crore in 2022-23 and Rs. 527.74 crore in FY 2021-22.

Moreover, the civic body collected revenue from Parking Fees of Rs. 21 Crore against the target of Rs. 20 Crore in the FY 2023-24.

Congratulating the officers and officials of the Council, Chairman, NDMC Amit Yadav said the significant achievement has been made possible with the dedication and team spirit of NDMC officials and the credit goes to team. He expressed hope that the spirit of progress will be maintained in future with NDMC set to become the role model in the country transforming it into an efficient, effective and livable urban area. He stated that this could be possible only with dedication, devotion, hard work and sense of responsibility fulfill by the team.

Yadav specially mentioned that NDMC has one of the few municipalities in India to not only achieve the Credit Rating of AA+ in the year 2017-18 but continue only maintaining the same rating till date.