Property tax collections surge as GHMC deadline nears
Of the 30 circles in the GHMC, this year too the highest tax was generated from Serilingampally , Jubilee Hills and Khairatabad
Hyderabad: The GHMC has collected Rs.1,854 crore property tax till Sunday afternoon, ahead of the March 31 deadline for 2024-25. The target is Rs.2,000 crore, against last year’s collection of Rs.1,917 crore.
Of the 30 circles in the GHMC, this year too the highest tax was generated from Serilingampally , Jubilee Hills and Khairatabad. Other municipal corporations and municipalities together have collected Rs.1,010 crore.
The GHMC set its target for this year based on the previous year’s collection, which also included revenue from the one time scheme (OTS). This year the number of people availing OTS is likely to be less as many of them availed the discount and cleared their property tax dues last year.
The OTS offers a waiver of 90 per cent on accumulated arrear interest , provided the taxpayer clears the principal amount of dues till the financial year 2024-25 together with 10 per cent interest at one go. The scheme will end on March 31.
