Know all about Property Tax in Faridabad
Faridabad, like Gurgaon, is categorized as A-1 city in Haryana and hence the same property tax rates apply here. The property tax is levied and collected by the Municipal Corporation of Faridabad. Given below are the details of important aspects associated with property tax in Faridabad.
Property Tax Assessment and Calculation System in Faridabad
The Haryana Government adopted a new property tax assessment system in its A-1 cities including Faridabad and Gurgaon. While the earlier property tax assessment system was based on collector rate, the new system is touted to be much simpler. In the present system, the tax payer can self-assess the property that is to be paid by him/her to the Municipal Corporation. The highlight of this property tax assessment system is that it allowed a 30% discount to all the property owners who paid the pending property tax dues or arrears within 45 days of receiving the notification. Moreover, in this assessment system, basements and parking lots are exempted completely from the levy of property tax.
Given below are the Faridabad property tax charges according to this new assessment system:
Residential properties
Up to 300 square yard – Rs.1 per square yard
301-500 square yard – Rs.4 per square yard
501-1000 square yard – Rs.6 per square yard
1001 square yard to 2 acres – Rs.7 per square yard
More than 2 acres – Rs.10 per square yard
Commercial spaces
Up to 1000 square yard – Rs.12 per square yard
More than 1000 square yard – Rs.15 per square yard
Institutions (commercial)
Up to 2500 square yard –Rs.12 per square yard
2501-5000 square yard – Rs.18 per square yard
More than 5000 square yard Rs.24 per square yard
Institutions (non-commercial)
Up to 2500 square yard – Rs.10 per square yard
2501-5000 square yard – Rs.12 per square yard
Penalties and Concessions on Property Tax in Faridabad
The Municipal Corporation of Faridabad (MCF) offers 100% discount on self-occupied residential properties of up to 300 square yards owned by presently serving defense personnel, presently serving paramilitary force personnel, ex-servicemen, retired parliamentary force personnel (or their spouses), family members of deceased soldiers and former parliamentary force personnel, provided the property owners have no other house in the state of Haryana. Rebate is also offered to owners of residential properties who are freedom fighters (or their spouse) as well as for war widows. The rebate is also applicable for vacant land of 1 acre and above that is used for agricultural or horticultural purposes. Similarly religious properties such as temples, mosques, churches and gurudwaras are completely exempted from paying property tax, provided the entire income of such religious organizations are used for public service or religious causes.
Where to pay property tax in Faridabad
The most convenient way to pay your property tax bill in Faridabad is to pay it online by visiting the relevant page on the website of the Municipal Corporation of Faridabad (MCF). On this page, you will have to select and click on the option that applies to your property and you will be directed accordingly for the payment.
Different temporary collection centers are set up by the MCF after the public is served with property tax bills. The details of such temporary collection centers are published in leading local newspapers and magazines. If you choose to pay manually at such collection centers, then you must take you property ID along with you ( property ID is a unique property identification number that is mentioned in your previous property tax receipt). You must also know the total covered area of your property, as you would be asked to fill this information in the declaration forms given to you at the time of manual payment.
Penalties
In the event of wrong declaration/ default, a penalty amount that is equal to the amount of tax evaded will be levied, provided the evaded amount is more than Rs.100. In the case of late payment, a penalty of 1.5% per month on the property tax will be charged. The property tax is to be paid half yearly and the last date for the payment of the property tax in the second half of 2013 was 31st December.
