According to reports, commercial properties in the western part of the city in areas like Jubilee Hills, Yousufguda, and Kukatpally were seized along with movable properties on the premises.
Published Date – 26 March 2024, 07:05 PM
Hyderabad: With multiple commercial property owners continuing to ignore payment of pending property tax dues that have accrued over the years, the Greater Hyderabad Municipal Corporation (GHMC) has started seizing their properties.
According to reports, commercial properties in the western part of the city in areas like Jubilee Hills, Yousufguda, and Kukatpally were seized along with movable properties on the premises. Notices are also being sent to residential buildings.
Currently, the corporation is running a one-time scheme exempting 90 per cent of interest on property tax arrears provided one clears the principle amount of tax until the financial year 2022-23 with 10 per cent interest.
Starting on February 29, the scheme will be open till March 31, the last day of the current financial year. However, the scheme seems to be doing little in fulfilling the target, unlike the Early Bird Scheme in April which generated Rs. 765 crore.
In the last few months, authorities have pulled all the stops to meet the target of Rs. 2,100 this year with one-time schemes, circle-level plans, and clearing any pending court cases. The revised budget estimate for the 2023-24 property tax is Rs. 1810 crore.
Tax Collectors made visits to all commercial and residential properties and notices were served to the defaulters, yet the corporation is falling short of over Rs. 500 crore. Officials say that the election code hindered their operations.
