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Reassessment to help GHMC net 200 cr
The Greater Hyderabad Municipal Corporation (GHMC) has decided to reassess 5.4 lakh properties that the corporation believes were under-assessed, with scope for netting Rs 200 crore additionally during December.
Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has decided to reassess 5.4 lakh properties that the corporation believes were under-assessed, with scope for netting Rs 200 crore additionally during December.
Interestingly, the tax in respect of most of the properties was reduced with much fanfare from Rs 1,200 to a nominal Rs 101 in line with the promise which the government had made before the GHMC elections.
The State government had issued a GO, before notifying GHMC elections in January, exempting residential buildings occupied by owner from property tax where the annual rental value did not exceed Rs 4100, subject to the condition that the beneficiaries of the exemption shall pay a nominal amount of Rs 101 per annum.
However, subsequently the corporation got a survey done in which it was found out that about 93 per cent of the properties were under-assessed.
The corporation has since revised and enhanced the property tax relating to 76,691 properties, out a total of 2,47,460 properties identified as under- assessed during the survey taken up so far. The corporation officials said that the survey would be completed by December end.
A senior GHMC official told The Hans India that the properties in some circles, including Malkajgiri, Quthballapur and Charminar, were yet to be re-assessed.
He said that the average increase in property tax demand for re-assessed properties was Rs 4,500. The GHMC official said that special teams had been formed to re-assess about three lakh properties by the year end.
