Delhi govt likely to bring rent deeds under circle rate

In a major initiative, Delhi Government has proposed that rent and lease deeds will be based on the circle rates of properties, a move aimed at mopping up more revenue and curbing tax evasion.

As per the proposal moved by the Revenue department, stamp duties on lease deeds and rent agreements will be calculated as per existing circle rates of an area and no under valuation of properties will be allowed.

Divisional Commissioner Dharampal said that circle rate may be applicable on properties whose tenure of rent agreement is more than one year.

"Often the real rent amount is not shown to save on stamp duties. We are planning to impose taxes on rented properties based on circle rate of a particular area," he said.

Sources said 2 to 5 per cent circle rate may be imposed on rented properties which may raise the rents of commercial properties in areas like Khan Market, Connaught Place and Greater Kailash.

with thanks : Times of India : LINK : for more details

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Discoms unsure of meeting new deadline, blame DERC

NEW DELHI: Delhiites risk a season of outages from June, with the Supreme Court lifting its stay restraining NTPC from snapping power supply to the BSES discoms.

BSES Rajdhani and BSES Yamuna, which distribute power to east, west, south and parts of central Delhi, are still trying to make payments to NTPC and indicate that they may not be able to meet the new deadline. NTPC supplies over 2,000MW to the city and regulating the supply will affect thousands of households. The discoms serve about 34 lakh households or 70% of Delhi.

BSES Rajdhani distributes power to over 18.5 lakh consumers in south and west Delhi, including Alaknanda, Vasant Kunj, Saket, Nehru Place, Nizamuddin, Sarita Vihar, Hauz Khas, RK Puram, Janakpuri, Punjabi Bagh, Tagore Garden, Vikaspuri, Palam and Dwarka. BYPL's consumer base includes Patparganj, Karkardooma, Mayur Vihar, Jungpura, Laxmi Nagar, Preet Vihar, Seelampur, Mausam Vihar, Anand Vihar, Vasundhara Enclave etc.

with thanks : Times of India : LINK : for detailed news.

NTPC can cut power to BSES if not paid, says Supreme Court

The Supreme Court has told India's top power producer NTPC that it can cut supplies to New Delhi's electricity distributor BSES if it is not paid arrears by end-May, intensifying a dispute that could lead to blackouts in the capital.

The court on Tuesday ordered BSES - part of billionaire Anil Ambani's Reliance Infrastructure - to pay state-run NTPC the Rs 7 billion ($116 million) it is owed by May 31.

If BSES fails to pay by the end of May, the court said, NTPC is entitled to cut the power it supplies to the distributor, overturning an earlier court order that NTPC should keep power flowing despite the outstanding bill.

BSES did not immediately respond to a request for comment. It has previously said lower tariffs and a revenue shortfall meant it could not pay.

The case in Delhi reflects a growing battle over who should bear the rising cost of power in India.

On the one side are many consumers who consider cheap or free power to be a right and want tariffs kept low.

with thanks : business today : LINK : for detailed news.

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