Delhi high street retailers push NDMC to slash property tax from 25% of rent to MCD-aligned 2-3%
New Delhi Traders Association is lobbying NDMC to rework property tax on Khan Market and Connaught Place retailers, citing a 25% of rent levy versus MCD's 2-3%. CP ranks 24th globally at $223/sq ft/year with 3% rental growth projected in 2025. A gazette notification aligning rates remains unimplemented.
What happened
New Delhi Traders Association · Retailers in Delhi's premium high streets Khan Market and Connaught Place are urging NDMC to align property tax rates with MCD's
Key facts
- 25% property tax
- 2-3% MCD tax
- 3% rental growth 2025
- $223 per sq ft/year
- rank 24 globally
Why this matters
Monitor NDTA's lobbying trajectory as a catalyst for revaluing Delhi high street footprints—any tax reset reopens M&A and store-network expansion math for retailers previously priced out of CP and Khan Market.