Q:I’ve recently inherited some property in Hyderabad. I haven’t a clue though about the property tax that I’m supposed to pay. What are the various details that I need to know before paying my property tax in Hyderabad?
Latest Answer: The Greater Hyderabad Municipal Corporation uses the annual rental value for calculating the property tax of commercial properties. Simply put, 30 percent of the annual rental value of a commercial establishment is equivalent to the property tax. Residential buildings, on the other hand, use a slightly different variant of this system. The monthly rental value and the plinth area of the building are taken into consideration before coming to final calculation. An updated list of monthly rental values for each location can be obtained from the GHMC’s website online. Using these figures, you have to follow a certain formula to obtain the exact value of your property tax.
