New Delhi: Property tax rates in Delhi - both for residential and non-residential properties - are set to go up. For residential properties, they will go up one percent or so while they will double for commercial ventures like hotels, malls, petrol pumps and even coaching centres with over 50 students.

The Municipal Corporation of Delhi (MCD) Monday finalised the property tax rates in its budget for the coming year. Announcing the new rates at the Town Hall, MCD Leader of the House Subhash Arya said: "The tax on residential properties in categories A and B will go up from 10 to 12 percent, in C, D and E from 10 to 11 percent, and in categories F, G and H from 6 to 7 percent."

Categories A and B are high-end colonies, categories C to E middle-class colonies, while categories F to H are those which have recently been regularised. Tax on non-residential properties in groups A and B has been increased from 10 to 15 percent, in C, D and E categories from 10 to 12 percent and in categories F, G and H the taxes will remain unchanged.

The MCD has decided to double to 20 percent the property tax levied on hotels of two-star category and above, guest houses, banquet halls, commercial complexes, malls, multiplexes, petrol pumps, fuel filling, CNG/gas filling stations, hotels with bar facilities and coaching centres training more than 50 students.