Cut on Regularisation Costs Bring Relief for Delhi Traders

June 21, 2007	(Be the first to rate this story!)  Loading ...
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Urban Development Minister Jaipal Reddy on Wednesday announced to reduce the conversion charges to be paid by traders for operating commercial units in residential areas of Delhi.

A notification to this effect will be issued today.

The annual conversion rate has been reduced by two-third of the prevailing rates for all categories, says the minister. He also announces more concessions to allow individuals owning property in the areas reserved commercial, residential, and mixed use property under the MPD, to avail the new rates before the deadline i.e. June 30.

Reddy has appointed a committee including higher officials from MCD, DDA, and NDMC to discuss about revised conversion rates.

The charges were believed to be very high which is why the response to the scheme for conversion turned poor.

Despite of reducing the costs, only 1% of individuals bearing heat of regularization charges have come up to make the payments so far.  To meet the deadline, a special facility has been provided to pay one-fourth charges by June 30 and the remaining by September 30, adds the minister.

Since, there are few days left for payment, the minister has allowed for paying one time development charges for parking in two installments. Of this, one-third is to be necessarily paid before June 30 and the remaining by 31 March 2007.

The DDA will issue the required notification specifying the new charges, says Reddy.

News Published Under:   Delhi |

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