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GHMC's Special Offer For Middle-Class
GHMC is getting prepared to exempt non-commercial houses within 200 to 250 square yards from paying property tax
N
Nishanth Kumar
Hyderabad
Wed Mar 02 2022
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GHMC is getting prepared to exempt non-commercial houses within 200 to 250 square yards from paying property tax and to increase the tax on the commercial and non-commercial property beyond that. It is likely that the law will be amended in the GHMC Act and a decision will be taken on this at the budget meeting. GHMC staff say it could be implemented from the next financial year. 


Authorities intend to apply it to those who have already paid the tax for the financial year 2022-23. GHMC sent the proposals to the government four months ago. Properties within 200 to 250 square yards for only 35 percent. Half of these property owners are poor, middle-class homeowners who pay only Rs 101 a year.  Brihan Mumbai Corporation has given a New Year's gift exemption from property tax to houses under 500 square yards this year. 


It seems that the government has decided to give a similar property tax exemption to non-commercial houses in Greater City. Although the scheme was initially intended to apply to property occupants in an area of 500 square yards, the plan has been dropped. GHMC is looking to fill the coffers by raising taxes for the rest of the property owners, with the exception of a few.


A total of 17 lakh people in Greater are paying property tax to GHMC. Of these, 3 lakh are taxpayers of Rs 101 in slums, while property tax accounts of less than 200 yards are around Rs 2.5 lakh to Rs 3 lakh. From these, GHMC gets a tax of Rs 150 crore to Rs 200 crore. From all in the previous financial year Rs. 1704 crore property tax was collected. GHMC has set a target of Rs 1,850 crore for the current financial year. Of this total property tax, less than Rs 250 crore comes from those within 200 to 250 square yards. Giving them a tax deduction and raising the tax on all types of property lanes of more than 250 square yards would double their income. Although this free scheme is applicable to up to 6 lakh people, the revenue of the corporation will not be reduced.


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GHMC's Special Offer For Middle-Class
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