STOCK MARKET BSE NSE

GHMC nets a record Rs 1,242 crore in property tax

GHMC has netted a record property tax collection for 2016-17 by collecting Rs 1,242 crore up to Friday, which may further increase by another Rs 10 crore or above till midnight of March 31.

Published: 01st April 2017 05:41 AM  |   Last Updated: 01st April 2017 05:41 AM   |  A+A-

GHMC.

By Express News Service

HYDERABAD: GHMC has netted a record property tax collection for 2016-17 by collecting Rs 1,242 crore up to Friday, which may further increase by another Rs 10 crore or above till midnight of March 31. The civic body had collected Rs 1025.45 crore for the year 2015-16.

The remarkable progress in the collection of property tax in 2016-17 is a result of various initiatives including the early bird scheme in April, lucky draw scheme in May, June and December, Tsunami Survey of above Rs 1 lakh non-residential properties, reverification of below Rs 1,200 properties, GHMC commissioner B Janardhan Reddy said.

As many as 1,74,656 tax payers under GHMC limits paid their property taxes amounting to Rs 146.74 crore when demonetisation was announced. Of this, 9,860 had not paid their property tax for more than two years.

Janardhan Reddy said that through lucky draw scheme announced in May 2016, the civic body collected Rs 30 crore in May 2016. The scheme was extended till June 2016.

GHMC was the first civic body in the country to announce lucky draw scheme for online property tax payers to encourage cashless transactions in December 2016.



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