Details about the hike in property tax in Hyderabad

Q: Hello everyone, I have recently heard in the news that the property tax on in Hyderabad will be hiked in the future? can anybody confirm this?

Krishna Rao, Hyderabad

23rd December 2014

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Replies (11)

But right now, it is not clear whether VAT would be altered considerably, the officials said the changes would be moderate. For instance, a wide range of
commodities including pulses, grains, electronic goods, computer peripherals, chemical fertilizers fall under five per cent tax category, and the rate may be changed to 5.5 per cent.

Ashok Sharma, Hyderabad

29th December 2014

Comment

A substantial hike of over 20 per cent is expected in excise duty across the slabs. As far as stamps & registration duty is concerned, it is expected to be hiked to 0.7 per cent from the existing 0. 5 per cent, on property sales.

Radha Reddy, Hyderabad

29th December 2014

Comment

I know, Even i have heard that the life tax for non-transport vehicles costing below Rs 10 lakh might go up to 14 per cent from the existing 12 per cent. And for non-transport vehicles costing above Rs 10 lakh, the tax is expected to be hiked from 14 per cent to 15 per cent.

Shilpa Vydyula, Hyderabad

28th December 2014

Comment

The government had actually announced the tax free budget proposed to the tune of Rs 1,00,637.96 crore against the total revenue of Rs 48,620 crore, has sought to use the option of open market borrowings in order to raise Rs 17,774.30 crore more funds.

Shilpa Vydyula, Hyderabad

28th December 2014

Comment

I have heard that the government is looking at mobilizing at least Rs 4,000 crore by increasing taxes and the main focus areas would include Motor Vehicle Tax (MVT), excise duty, stamp & registration fees, but an upward revision in Value Added Tax (VAT) on some commodities cannot be ruled out.

Apsara Ivaturi, Hyderabad

27th December 2014

Comment

The government of Telangana has planned to wait for a decision frm the centre till the middle of December, but if the Government of india does not respod to its please, then the Government of the State is planning to increase the tax. this will be such a problem for the earning population in the state.

Vijay Krishna Koneru, Hyderabad

27th December 2014

Comment

The state government said it is committed to budgetary estimates and there would be no downward revision irrespective of the Centre's response to the chief minister's request to the finance minister. That means that there is no way the tax will become any ess in the coming future.

Kamat Reddy, Hyderabad

26th December 2014

Comment

I am aware of this situation. The Government of Telangana doesnt really have any option actualy. With so many projects that are coming up in the state, the budget is bound to increase and it is very difficult for the government to get funds. It has no other option but to go for open market borrowings.

Aamir Mirza, Hyderabad

26th December 2014

Comment

"I heard that the Government has asked the Union finance minister Arun Jaitley requesting him to relax the FRBM
norms for the new state and allow his government to raise Rs 17,774.30 crore through open market borrowings, so that there would be no need to increase the taxes."

Ramesh Gullapalli, Hyderabad

25th December 2014

Comment

Hey, yes, in order to to bridge the yawning gap between expenditure and revenue proposed in
the budget, the Telangana government is thinking of a hike in taxes, but its not confirmed, the decision from the center is still pending on this.

Sanjay Naidu, Hyderabad

24th December 2014

Comment

Hey I have heard this news too, but it has still not been confirmed. There have been rumours about this that the new Telangana Government is planning to hike the taxes in the state to meet the expenditure of the state, But no body is sure yet.

Kamat Reddy, Hyderabad

23rd December 2014

Comment

Yes, that is true, but with the fiscal responsibility and budget management (FRBM) prohibiting a state government going in for borrowings beyond three per cent of GSDP (gross state domestic product) Telangana can borrow up to Rs 11,369 crore as the estimation of the GSDP for the year 2013-14 is pegged at Rs 3,78,963 crore.

Ashwin Aysola, Hyderabad

15th January 2015