Officials told Kashmir News Service (KNS), Matoo bagged 40 votes against 26 polled in favour of his Congress rival, Ghulam Rasool Hajam.
Four votes were found invalid, officials said.
Notably, it is for the first time PC bagged the post of Mayor Srinagar Municipal Corporation.
Meanwhile, Sheikh Imran, an independent corporator backed by Congress was elected Deputy Mayor SMC.
Officials said that Imran was declared Dy Mayor who has won the Dy Mayor elections by one vote.
Sheikh Imran has bagged 35 votes while as his rival has bagged 34, officials said, adding that the one vote was rejected during the elections for Dy Mayor.