New Delhi, March 13 -- Entrepreneurs in Delhi got a huge relief from the Delhi High Court as they will not have to pay double property tax on rented industrial and commercial property.
The Municipal Corporation of Delhi (MCD) had increased the occupancy factor for rental non-residential property from one to two.
The Delhi's entrepreneurs' organization Apex Chamber of Commerce and Industry Delhi had appealed against this in the court.
Vice President of this organization Raghuvansh Arora told that the Corporation Evaluation Committee (MVC) has the right to increase the occupancy factor.
The occupancy factor for rental and non-residential property under MVC-3 was increased from one to two under MVC-3. But MVC is valid for 3 years.
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