Greater Hyderabad Municipal Corporation property tax collection to cross Rs 1,350 crore for 2017-18

Till yesterday, the collection stood around Rs 1,180 crore.

Published: 01st April 2018 04:14 AM  |   Last Updated: 01st April 2018 04:14 AM   |  A+A-

The good progress in the collection of property tax in 2017-18 is a result of various initiatives (File photo)

By Express News Service

HYDERABAD: The Greater Hyderabad Municipal Corporation (GHMC) is expecting a windfall of `1,350 crore plus from property tax collections for the year 2017-18.On the last day of property tax collection, GHMC collections are expected to cross a record of over `1,300 crore plus as owners are pouring in to pay their property tax. Last year, the collection was `1,205 crore. Till yesterday, the collection stood around `1,180 crore. Today, being the last day of the property tax collection for the current financial year ending, they are expecting another `125-`140  crore and plus till late midnight. In comparison to the previous year’s collection, this year, GHMC is expected to net an additional amount of `125-130 crore. 

The good progress in the collection of property tax in 2017-18 is a result of various initiatives including the early bird scheme in April, lucky draw schemes, reverification of below `1,200 properties. Property tax which is the main revenue source for corporation is gradually increasing every year since 2012-13 which was `787 crore, 2013-14 (`1,047 crore), 2014-15 (`1,078 crore),  2015-16 (`1,025 crore, 2016-17 (`1,205 crore).Last financial year (2016-17), there was a remarkable improvement of property tax, as lot number of people came forward to clear the due to demonetisation effect. 

Stay up to date on all the latest Hyderabad news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp