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Indore (Madhya Pradesh): After a gap of 15 years, Indore Municipal Corporation (IMC) gave a financial blow to residents by increasing water cess by 50 per cent and property tax by Rs 3 to Rs 7 per square feet through its budget for financial year 2024-25. Though there is no increase in door-to-door garbage collection charges from residential and commercial buildings, a hike ranging from 14 per cent to 22 per cent is done in bulk collection of garbage from institutions.
Besides, parking charges realised at the time of purchase of vehicles have also been increased of all vehicles valued above Rs 50k. Likewise, the IMC will also charge two per cent green cess from now. Amidst speculation of hike in civil taxes, Mayor Pushyamitra Bhargav on Tuesday presented his second budget of Rs 8,302 crore, with a deficit of Rs 200 crore including 5 per cent reserved funds, for 2024-25 fiscal at Atal Parisar at IMC headquarters.
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In his budget speech titled ëAtmanirbhar Nagar Nigam aur Samagra Vikasí, Bhargav said, 'While there has been no increase in taxes in the last 10 to 15 years, 29 villages had come under IMCís purview (increasing the burden on the exchequer). For the future of Indore, there is need to increase some taxes. I propose to increase maximum Rs 3 for residential and maximum Rs 7 per square feet for commercial buildings. I also propose to increase monthly water cess by flat Rs 100. It costs Rs 1k per house every month to IMC which charges a mere Rs 200 from households in return.'
25% discount in city buses to outstation coaching students
While Usha, Asha and other women supervisors will get 75 per cent discount in city bus travel, students coming from others cities to Indore for studying in coaching centres will get a flat 25 per cent discount in city bus fare.
Major highlights of budget
-- Property taxes hiked by maximum Rs 3 per sq feet for residential buildings and Rs 7 for commercial buildings
-- Now, property tax payers to pay 2 per cent green cess also for greener city
-- Red zone of 108 colonies were upgraded as they were declared developed
-- Parking charges paid at the time of vehicle purchase hiked
-- No hike on charges for door-to-door garbage collection, but will have to shell out for over 5 kg of waste
-- Charges hiked for those who use water for commercial purposes
-- Rs 1800 crore for Narmada Phase-4: 35 new overhead tanks, new sump wells, new pipeline
-- 23 new roads to be constructed to be built at an outlay of Rs 468 in eight months
-- Under Waste to Energy scheme, a plant to be set up with Rs 200 crore which will dispose of 500 tonnes of waste and make 6MW power
-- ëOne Indore, One Taxí plan afoot. The proposed tax system may come into force after launch of IMCís revenue collection portal in January 2025
-- 60 lakh documents to be digitised in the next five months
-- E-rickshaws can charge vehicles for free from IMC charging station for a year
This is your new property tax for 1000 sq ft area
Rate Zone Old Tax New Tax Hike
1 2673 3624 951
2 2316 3183 867
3 1872 2044 172
4 1605 1782 177
5 1425 1605 180
