In a partial relief to traders in Delhi, the government has reduced the rate of conversion charge for commercial use of upper residential floors of various markets, including Sarojini Nagar Market and Khan Market, according to a notification issued today.
The reduced rates structures for conversion charge would now be Rs 22,274 per sqm of built-up area, it said, adding, the reduced rates will remain in force "only till June 2018".
The old conversion charge stands at Rs 89,000 per sqm.
"...the Delhi Development Authority with the prior approval of the central government...notifies reduced rates of use conversion charges for...upper residential floors of various markets (Sarojini Nagar Market, Khan Market and Green Park Extension, etc.)...," it said.
The notification further said that it is "subject to charging additional rates at 25 per cent of difference between the commercial rate and the residential rates as one-time conversion charges and further subject to the condition that the building shall remain in the shape and structure as was approved in the original plan sanctioned by the competent authority".
Through the notification, the government modified the rates notified on July 10, 2012.
The notification will come as a big relief to traders as an ongoing sealing drive initiated by a Supreme Court- monitored committee has hut shops of many business-owners in various parts of Delhi, due to "non-payment" of conversion charges.
A senior official of the Urban Affairs Ministry, when contacted, said that though only a few major names of markets have been mentioned in the notification, it by and large applies to all markets in the city.
"These reduced rates will remain in force only till June 2018 subject to the following conditions: Conversion cases already finalised as per the charges mentioned in the Gazette Notification 10.07.2012 shall not be reopened; the procedure for conversion shall be kept simple and transparent," the notification added.
Meanwhile, the South Delhi Municipal Corporation (SDMC) today issued a statement, claiming the monitoring committee has "extended the date" for depositing the first instalment of use conversion charges from "December 31 to January 15" next year.
The Building Department of the SDMC today continued its sealing action against commercial establishment officers/shops on Chhattarpur Bhati Road, by sealing 34 commercial outlets, mostly marble trading showrooms, the civic body said.
AAP MLA Somnath Bharti, in a tweet, said, "New year gift to all my traders of Delhi fearing sealing by SC monitoring committee! This is the notification just issued by DDA which brings down exorbitant conversion charges 89000/- to 22,474/-.
I, as member, DDA had raised this issue in 2015 n since then fought tooth and nail(sic)."
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)