Property Tax Waiver in Hyderabad

Q: Hi, I am Pradeep. I would like to know if is this true about the property tax exemption in Hyderabad for residential properties? Please provide some details on this.

Pradeep naidu, Hyderabad

26th February 2015

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Replies (13)

as per section 202A(1) of GHMC Act, the state government may exempt any residential building occupied by the owner from property tax where the annual rental value is Rs 600. As per this provision, properties having a tax of Rs 156 can be exempted from payment. In the same way, the property tax is very nominal, Rs 4 per year, for houses constructed for urban poor

Shiva Kumar, Hyderabad

4th March 2015

Comment

The move will benefit around seven lakh property tax payers belonging to the lower and lower-middle classes. This will definetly decrease the property tax that the middle class and the lower middle class people pay over the year,

Vijay Krishna Koneru, Hyderabad

4th March 2015

Comment

The GHMC will exempt properties that pay Rs 4,000 per year and passed a resolution to this effect in the standing committee last November. But the proposal could not move further as the GHMC general council meeting which is mandatory for clearance of any proposal, was not held. The tenure of the elected body expired in the first week of December, 2014.

Madhu Karanth, Hyderabad

3rd March 2015

Comment

If the government decides to exempt certain properties from payment of property tax, the same amount would have to be reimbursed by the government as is the case for government office buildings

Haritha Reddy, Hyderabad

2nd March 2015

Comment

According to official data, If the waiver comes into force, the biggest beneficiaries will be from Charminar-1 (78,000), LB Nagar (58,000), Khairatabad-2 (56,500) and Charminar-2 (53,000) municipal circles. These areas contribute around Rs 520 crores in property tax A.

Suraj.V, Hyderabad

1st March 2015

Comment

Actually, the officials are looking at newer sources for decreasing the property tax. There are more than 20,000 people who pay residential property tax in spite of falling inside the commercial bracket. The government is also planning to amend the Municipal Act and regularise all types of construction.

Abdul Zafar, Hyderabad

28th February 2015

Comment

GHMC officials said that as of now, there are 13.82 lakh property tax payers in Greater Hyderabad and the GHMC earns nearly Rs 1,000 crore through property tax every year. But out of that, Rs 415 crore is earned from the seven lakh property tax payers, who pay Rs 1,000 per year.

Lokesh Gowda, Hyderabad

28th February 2015

Comment

A major chunk of the property tax collection comes from 11.5 lakh home owners who fall under the Rs 5,000 property tax bracket. There are 1.73 lakh commercial buildings under the GHMC’s jurisdiction.

Radha Reddy, Hyderabad

28th February 2015

Comment

Also, apart from GHMC, the state government is likely to extend the tax waiver to other municipal corporations such as Warangal and Khammam, which are likely to go to polls in the next few months

Faizan Khan, Hyderabad

28th February 2015

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In the previous year of 2012-2013, the GHMC officials could only collect 700 crore, but in the fiscal year of 2013 and 2014, they were able to collect a huge amount of almost 1,022 crore. ant because of this, they were able to start and construct many new projects in the city too.

Yogesh kumar, Hyderabad

27th February 2015

Comment

the tax exemption announcement is likely to come after the election code expires in the last week of March after the graduates' constituencies polls. The property tax waiver is expected to come into force in the next financial year, from April 1, 2015.

Kamat Reddy, Hyderabad

27th February 2015

Comment

With the State government planning to exempt tax on residential properties, the corporation stands to lose Rs 400 crore per year. Property tax collection has witnessed an upward swing in the last few years, Actually, The Greater Hyderabad Municipal Corporation’s (GHMC) annual property tax earnings are about Rs 1,090 crore, but now it looks like it will loose 400 crore.

Subash, Hyderabad

26th February 2015

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Hello Pradeep, yeah. the state government is considering property tax exemption for residential properties which pay Rs 1,000 per year. The state Government is doing this because the Greater Hyderabad Municipal Corporation elections are coming up soon.

Verma, Hyderabad

26th February 2015

Comment