The North Delhi Municipal Corporation on Friday said the total revenue of the civic body for the financial year 2016-17 would be Rs8,000 crore. The corporation has taken many steps to increase its revenue.
North Delhi Municipal Corporation Standing Committee Chairman Mohan Bhardwaj said, “Commercial utilisation of various municipal properties complexes, shopping complexes, car parking, and multi-storey buildings would be developed at Model Town, Azadpur, Dhaka, Minto Road, etc. These properties would be leased out for additional revenue.”
Bhardwaj said as per the recommendations of 3rd and 4th Finance Commissions, the Corporation is due to receive total funds of more than Rs1,000 crore upto financial year 2016-17. Bhardwaj added that it is expected that Rs1,000 crore can be raised by concluding the process of making the municipal properties freehold in this financial year. “The reform in property tax collection is also likely to improve financial condition of the Corporation. North civic body would set an example by becoming financial independent municipal body,” said Bhardwaj.