Greater Hyderabad Municipal Corporation sets target of Rs 1,700 crore property tax collection this year | Hyderabad News
Under the scheme, a tax payer will get a waiver of 90% on interest payment, provided that the principal amount and interest on accumulated arrears is paid in one ago.
The Greater Hyderabad Municipal Corporation (GHMC) has set a target of realising money from the cumulative interest payment arrears of 1,626.93 crore to be collected between July 17 and October 31, for the financial year 2022-23.
As many as 41,599 houses across Manikonda, Rangareddy, Nizampet, Malakjgiri-Medchal, Boduppal, Dundigal, Nagaram, Dammaiguda, Peerzadiguda, Kompally, Gundlapochampalle and Medchal have pending property tax arrears, reveals official data.
Interestingly, all these areas are witnessing a fast-paced real estate boom and proportionately a rise in defaulters. The highest arrears amongst them are in Nizampet with 45.21 crore. In total, property owners of 6.73 lakh properties across the state have arrears to the tune of 1,999.24 crore to 140 ULBs. In Manikonda, 9,326 units owe 38.75 crore.
While the last two years did not see many takers, officials hope that the OTS scheme may pick up pace this year.
“We have informed tax payers about their pending arrears by phone and messages. We have also urged them to use the opportunity as they can get huge leverage. The GHMC has set a property tax revenue target of Rs 1,700 crore for the financial year 2022-23,” a senior GHMC official said.
However, significant tax arrears are pending across the state, particularly in Adilabad, Pargi, Miryalguda and Suryapet districts.
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