Hyderabad: GHMC’s Last Moment Attempts Turn Into Record-Breaking Property Tax Collection

The Greater Hyderabad Municipal Corporation (GHMC) left no stone unturned for collecting property tax from maximum residents in the financial year. The impact of which was appeared on the GHMC revenue, which stands at Rs 1,917 crore through the property tax.
hyderabad property tax

Hyderabad: GHMC’s Last Moment Attempts Turns Into Record-Breaking Property Tax Collection (Representative Image)

Photo : Times Now
Hyderabad: An impressive revenue of Rs 1,917 crore was generated in the financial year 2023-24 by the property tax collection in Hyderabad. The collection received a boost in the last two weeks of March. Thanks to the one time settlement scheme and commercial properties’ seizures by the Greater Hyderabad Municipal Corporation (GHMC).
Out of the total revenue for the year, Rs 429 crore was collected merely in the last two weeks. It was a feat unto itself. The civic body collected Rs 123 crore only on the final day.
GHMC Commissioner D. Ronald Rose said the collection set a record. He said the property tax collection for 2023-2024 has beaten that of 2022-2023 by 15.5 per cent. In the previous year, the collection stood at Rs 1,660 crore, Rose said, The Hindu quoted.
Not just that but the 'record collection' is even higher than the revised budgetary estimates of Rs 1,810 crore, the GHMC commissioner claimed. However, it fell short of what was targeted, Rs 2,100 crore.

Significant Policies By GHMC For Property Tax Collection

To make this year’s property tax collection a record, the one time settlement scheme has been a pivotal factor. Under this scheme, the civic body offered 90 per cent interest waiver on property tax arrears, leading more and more residents to clear their dues.
The number of people willing to pay dues grew under the waiver policy, and so was the property tax collection on the GHMC records. Over Rs 300 crore was recovered under this scheme alone, officials claimed.
Another policy that helped GHMC was the early bird scheme. It showed a great impact in the first month of the financial year, and set a new record. Through this scheme, Hyderabad’s civic body collected Rs 765 crore.
One more key policy of the GHMC was the seizures of commercial properties. This one was adopted when the one time settlement scheme was already enforced.
Under this one, the GHMC officials targeted those whose dues of more than one year were still pending. After issues and warrants, such properties were seized until the clearance of all pending payments. This caused panic among the residents.
Around 140 properties were seized across 30 circles by the second last week of March. In the areas of Jubilee Hills and Yousufguda alone, the number of seized properties mounted over 60, reported The Hindu.
The commissioner attributed the record-breaking property tax collection to bill collectors, assistant municipal commissioners, tax inspectors, deputy and zonal commissioners and other staff. Despite having the burden of parliament elections coming ahead, they put their efforts to collect the tax, leaving no stone unturned.
End of Article
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