HYDERABAD: The Greater Hyderabad Municipal Corporation (GHMC) set a record in property tax collection as it amassed Rs 786.75 crore under the Early Bird Scheme (EBS) between April 1 and 30. There will be no extension of EBS as the tax collection was higher than the set target.
The civic body had expected to collect Rs 750 crore, however, it has crossed the target from as many as 7,35,651 assessments.
Serilingampally circle topped the list wherein, as many as 56,297 property owners paid Rs 103.32 crore followed by Jubilee Hills circle with a total collection of Rs 82.47 crore and 26,185 assessments. Khairatabad circle amassed Rs 65.89 crore with 30,929 assessments whereas, Moosapet circle collected Rs 51.67 crore through 39,404 assessments. Least amount of property tax was collected from Chandrayangutta circle with a mere 6916 assessments generating Rs 2.57 crore of revenue, followed by Falaknuma circle with Rs 2.19 crore and 6956 assessments and Charminar circle with Rs 5.40 crore and 10,478 assessments.
In the FY 2022-23, GHMC had generated Rs 741.35 crore in revenue and looking at this as a good response, this financial year, a target of Rs 750 crore was set. To the surprise of the civic body officials, Rs 50 crore was collected on Sunday surpassing the target. Under the Early Bird Scheme, a 5% rebate is offered on property tax to building owners. The rebate is given only on the current year’s tax and not on arrears. Property tax being the prime source of revenue for GHMC, the scheme aims to collect revenue for the city’s development.
TARGET SURPASSED
The civic body had expected to collect Rs 750 crore of property taxes under the Early Bird Scheme (EBS), however, it has crossed the target from as many as 7,35,651 assessments. On Sunday alone, Rs 50 crore was collected under the scheme. There will be no extension of the scheme. Under EBS, a five per cent rebate is offered on property tax to building owners. The rebate is not offered on arrears.