Following the implementation of the third Municipal Valuation Committee (MVC), the cash-strapped East Delhi Municipal Corporation (EDMC) will offer exemption from enhanced property tax till July 31.
The announcement was made on Thursday by the Leader of House in East Delhi Municipal Corporation, Nirmal Jain.
As per the provisions, commercial and non-residential properties of 139.35 sq meter or more, that fall under 'A'' Category, are granted exemption equivalent to pre-existing MVC-I, the EDMC said in a statement.
Jain further said that along with the exemption, an extension of rebate period on prompt payment has also been offered till July-end.
The rebate is also offered on all industrial properties of 'B' category as per the recommendations of MVC-I.