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GHMC to rationalise property tax collection
Residents who availed property tax benefit, before the Greater Hyderabad Municipal Corporation (GHMC) polls would be re-assessed and brought into the tax bracket. Following the instructions of Municipal Administration and Urban Development minister K Taraka Rama Rao, GHMC officials have decided to rationalise the property- tax of nearly 12 lakh residential buildings in the city.
Hyderabad: Residents who availed property tax benefit, before the Greater Hyderabad Municipal Corporation (GHMC) polls would be re-assessed and brought into the tax bracket. Following the instructions of Municipal Administration and Urban Development minister K Taraka Rama Rao, GHMC officials have decided to rationalise the property- tax of nearly 12 lakh residential buildings in the city.
A senior GHMC official said that the previous tax revision for residential properties was done in 2001. The official said that even though the rental value of several properties in most areas of the city have increased by at least four times, the residential property owners were still paying the old rates. They found that most of the properties were either un-assessed or under-assessed.
- Around 12 lakh residential buildings to be re-assessed
- Move expected to yield revenue of Rs 500 crore
GHMC has been re-assessing residential properties in circles 9A and 9B on a pilot basis. The corporation would first re-asses every property and rationalise all residential properties in both circles, he said. Rationalisation of tax will be based on the outcome of the results in the above two circles. A full-fledged decision is likely to be taken in August.
Interestingly, GHMC officials said they found more irregularities in the assessment of properties, the property-tax of which was reduced from Rs 1,200 to Rs 101 prior to the GHMC polls. They are confident of mobilising at least Rs 500 crore through rationalisation.
Commenting on the revision of tax on other properties, the official said that MA&UD minister KTR has assured them that the State government would amend the by-laws for levying tax on Sikham lands, open lands under Urban Land Ceiling (ULC) and illegal constructions in the city.
He said that the civic body has so far identified 1.5 lakh such properties. He also said that the Corporation would impose 100 per cent penalty on unauthorised constructions and was planning to collect 0.5 per cent tax on all vacant lands in GHMC limits. “GHMC has identified about 1.10 lakh commercial property owners who have been paying property- tax.
However, only 68,000 of the 1.10 lakh possess commercial electricity connection. Based on this report, GHMC is planning to conduct a comprehensive survey of about 72,000 properties by taking cognizance of the registered sale deeds,” said the official.
By: Maddy Deekshith
