City Beat: 100% Penalty And Interest Waiver On Property Tax In Delhi [Video]

Coming as a relief to property owners in Delhi, the standing committees of the three corporations in the capital announced a 100 per cent penalty and interest waiver on payment of property tax arrears till February 28, 2017. Going further the corporation would offer a 100 per cent waiver on payment of penalty and 50 per cent on interest amount from March 1  till March 31. This will be valid for all types of government and private properties including, residential, commercial offices, etc. Reports suggest that property tax payers in Delhi owe a whopping Rs 2,700 crore to the three corporations, some individual property owners owe Rs 20 crores.

After Prime Minister Narendra Modi announced a demonetisation drive on November 8, the infrastructure projects in Delhi have been hit hard as the labourers working on these projects have either gone back home or have been standing in bank queues. The sites that have been affected include  Barapullah phase II and III, the parallel RTR flyover and some schools and hospitals too. Not just bigger projects even other smaller repair and construction projects are feeling the heat.

The Greater Noida Industrial Development Authority recently imposed a fine of Rs 5 lakh each on four developers as they failed to comply with the construction guidelines of Ministry of Environment and Forests 2010. Recently, National Green Tribunal had also summoned the top official of the authorities to Gautam Budh Nagar to ensure implementation of green norms.

Now for some commercial news. Delhi's Khan Market has yet again topped the charts of being India's most expensive retail location to rent a shop and 28th most expensive in the world. Of the list released, five of India's 10 most expensive retail locations are in Delhi and National Capital Region. This includes Connaught Place, DLF Galleria in Gurgaon, Greater Kailash-I, South Extension, apart from Khan Market.