Plot owners has to pay more taxes in Hyderabad

Q: Hey heard that Plot owners has to pay more taxes in Hyderabad. KIndly discuss on this news and let me know the details.

Ramesh Hegde, Hyderabad

26th February 2014

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Replies (4)

So investors would certainly be sceptic about putting money in plotted developments if they are made to pay such heavy taxes right !!

Joydeep D,

26th February 2014

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Guys as per my knowledge, the GHMC has received around 35,000 applications for building construction in the last four years. It has approved around 29,000 of these..

Supratim,

26th February 2014

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@Supratim I think Ideally one is to finish construction within three years of receiving the approval. This deadline may be extended to a maximum of five years under emergency circumstances.

Himani,

26th February 2014

Yes as far as I know as per the GHMC Act, 0.5 per cent if the registration value of land could be collected as vacant land tax by the corporation. This indicates that for a 300-sq-yd building in a particular locality, if the building owner pays around Rs 5000-10,000 as property tax and a plot owner in the same vicinity would have to cough up anything between Rs 30,000-60,000.

Pranab Malakar,

26th February 2014

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Hey Ramesh, even I heard about this. Before GHMC (Greater Hyderabad Municipal Corporation) stated that it would be collecting more tax from vacant land owners than it does from building or apartment owners.

Balwinder Singh,

26th February 2014

Comment