The New Delhi Municipal Council's revenues for the 2023-24 financial year exceeded its target, with property tax collection crossing the Rs 1,000-crore mark for the first time in its history, officials said on Wednesday.
The New Delhi Municipal Council collected a revenue of Rs 3,795.30 crore from receipt sources such as property tax, licence fees, commercial revenue (water and electricity) and parking fees, it said in a statement.
For the first time in the NDMC's history, the revenue from property tax crossed the Rs 1,000-crore mark, it said.
"The NDMC has collected Rs 1,025.59 crore in property tax against a target of Rs 1,150 crore. The NDMC had collected property tax revenue of Rs 931.20 crore in 2022-23, Rs 950.75 crore in 2021-22 and Rs 690.78 crore in 2020-21," it added.
During the 2023-24 fiscal, the NDMC collected Rs 1,811.71 crore in revenue from electricity and water supply against a target of Rs 1,659.95 crore. It had collected commercial revenue of Rs 1,503 crore in the 2021-22 and Rs 1,722 crore in the 2022-23 fiscals.
The NDMC also surpassed its target for licence fee collection for the fiscal. The estate department collected Rs 937 crore in licence fees against a revised target of Rs 825 crore.
The civic body's revenue collection from parking fees was Rs 21 crore against a target of Rs 20 crore.
RECOMMENDED FOR YOU
![](https://images.assettype.com/bloombergquint/2023-05/4326e345-fa49-4868-a4da-da5c58e29391/LIC__1_.jpg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
LIC Receives Rs 606 Crore Demand Order From Maharashtra Tax Authority
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2024-04/368cf9b9-e018-44cb-b0be-b3035e3cf792/Bharti_Airtel_Ltd__store_exterior_in_Mumbai___Photography__Vijay_Sartape__Source__BQ_Prime__20_11_23.jpg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Bharti Airtel's GST Demand Rectified To Rs 194 Crore From Rs 605 Crore
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2024-06/5de58257-df1b-4358-8228-e950575e3329/71da3118-d995-4f70-8359-166db42d799b.jpg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Maruti Suzuki To Take Rs 850 Crore Hit In Q2 Profit After Budget 2024 Removes Indexation Benefit
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2023-10/6e602802-552c-48d1-92de-f983d249787c/WhatsApp_Image_2023_10_17_at_4_01_38_PM.jpeg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Bajaj Finance Gets Rs 342 Crore GST Notice From Kochi Tax Authorities
![timelogo](/images/amp-time.png)