Hyderabad property tax set to go up from Oct 1

Properties in areas where all civic amenities are in place will have to pay more property tax from October 1, 2012.
By: Times of India/Hyderabad
 
Aug. 4, 2012 - PRLog -- The Greater Hyderabad Municipal Corporation (GHMC) has instructed deputy municipal commissioners to enhance the annual rental value (ARV) of properties (property tax is based on ARV) up to 100% on the present value based on amenities in the area.

GHMC officials fix ARV depending on civic amenities like water supply network, roads, streetlighting, factors like educational and medical institutes, markets, shopping complexes, parks and playgrounds, banks, public offices, factories and industrial areas and other development activities. "Annual rental value of buildings and land will be decided based on location, type of construction, plinth area, age of the building and nature of usage," a senior GHMC official said.

The corporation began the exercise of revising the property tax a few days ago. Deputy municipal commissioners of respective circles have been asked to submit proposals dividing areas into territorial zones and sub-zones and fix ARVs. As of now, the entire GHMC area is divided into 115 main zones and 344 sub-zones for non-residential properties based on location of the building like abutting main roads, inteal roads, lanes and bylanes.

The officials said a survey would also be conducted by the tax wing after finalising the zones and sub-zones. Bill collectors and tax inspectors will visit at least 20% of the properties marked in an area and find out the rental value as there were allegations that the corporation had enhanced property tax abnormally in certain areas, especially in L B Nagar circle, without checking local rental values. Some corporators had even raised the issue in council meetings.

A committee has been set up by GHMC commissioner MT Krishna Babu at the head office to end the discretionary power of the officers in fixing rental values and also to check abnormally high property tax in certain circles. "GHMC will complete the process of finalising the annual rental values of areas by September 24. A detailed schedule for revision of property has been given to the circles," GHMC additional commissioner (Finance) K Shiva Parvathi said.

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