Payment of property tax till March 31
Civic body nets Rs.775 cr., plans to reach target of Rs. 1,250 cr. by March 31. The civic body hopes to inch towards its ambitious target of Rs.1,250 crore. GHMC Commissioner Somesh Kumar said a series of concerted efforts have started to yield at least Rs.10 crore per day.
Mar 29, 2014
Source : The Hindu


HYDERABAD: Focus on 150 top defaulters in each circle, notices, warrants and seizure of properties led to the GHMC netting Rs.775 crore of property tax thus far, surpassing last year’s collection of Rs.747 crore at the same time.

With just a week for March 31 deadline, the civic body hopes to inch towards its ambitious target of Rs.1,250 crore. GHMC Commissioner Somesh Kumar said a series of concerted efforts have started to yield at least Rs.10 crore per day and special attention will be paid towards big defaulters eluding the tax net.

Tax from the government to the tune of Rs.40 crore was already deposited and departments such as the BSNL, CPCDCL, Railways and APSRTC which have to make payments between Rs.6 crore and Rs.8 crore, were asked to clear the amounts in the next couple of days.

‘More payments expected’

More payments are expected to trickle from Wednesday onwards since large clearances are made on the last days. “Individuals and institutions are in the habit of clearing the dues in the last hour, and there has been an instance when payments of almost Rs.150 crore were made on the last day,” he said.

The offer of interest waiver on property tax dues till the month-end would also spur a last minute rush, it was reasoned.

Special counters are proposed to be set up on the last two days of the month, which are holidays.

The GHMC has also sought property tax from the metro rail developers for land belonging to HMT which was taken on lease for the casting yard at Qutbullahpur, and also raised a few structures there. Mr. Somesh Kumar HMT owed a considerable chunk of property tax dues, of around Rs.10 crore including interest component.

“They (Metro Rail) have to make lease payments to the HMT. We have asked our tax dues to be cleared from the amount they have to pay to the HMT,” he said.

That apart another Rs.29 lakh as property tax have been sought for a pre-fab structure.

The issue was discussed with both the HMR and L&TMRH officials and a positive outcome is expected in a day or two. “Some points related to concessionaire agreement were raised and they said the government should pay the tax and not them. They will have to resolve the issue with the government,” Mr. Somesh Kumar added.

Latest Realty News

Payment of property tax till March 31
Mar 29, 2014
HYDERABAD: Special counters will remain open at all the 18 circle offices of GHMC on Sunday and Monday for property tax payment.
A House for Mr NRI
Mar 28, 2014
HYDERANAD: NRIs who purchased property in India a few years ago have not managed to rake in the moolah. Unattractive returns in cities such as Hyderabad and Coimbatore have put off NRIs, particularly from the US, according to builders.
GHMC attaches SIRD properties worth Rs 1.59 crore
Mar 24, 2014
HYDERABAD: Greater Hyderabad Municipal Corporation officials on Wednesday attached two Volvo buses, a Swaraj Mazda, CPUs and a color printer belonging to the State Institute of Rural Development (SIRD), Rajendranagar, for Rs 1.59 crore property tax dues.
Political crisis, slowdown impact AP cement firms
Mar 24, 2014
HYDERABAD: The cement industry in Andhra Pradesh is facing a crisis. Prices have nosedived by Rs 50-60 a bag, hitting a new low, below Rs 200. Production in most units is just around 50 per cent of capacity and many are in the red.
IT Raid on Kiran's Realtor Friend
Mar 21, 2014
HYDERABAD: Income tax sleuths raided the residence of real estate businessman G Amarender Reddy here on Thursday and seized incriminating documents pertaining to huge cash transactions outside the book of accounts, it is learnt.
Funding the realty sector
Mar 21, 2014
HYDERABAD: The Reserve Bank of India’s diktat to banks to link the disbursal of home loans to stages of construction, to protect the interests of buyers and contain the fallout of ‘innovative’ housing finance schemes, has yet again revived the debate over the right funding formula to sustain the real estate business. Developers have experimented with numerous funding options. Nevertheless, many of them are now being forced to seek other unregulated sources of funding, which come at a significant
Complete verification of buildings today, GHMC officials told
Mar 20, 2014
HYDERABAD: Greater Hyderabad Municipal Corporation (GHMC) commissioner Somesh Kumar has asked officials to complete the process of verification and assessment of buildings by March 20.
The elusive play area in the city of Hyderabad
Mar 20, 2014
HYDERABAD: The city has been expanding at an exponential rate and one can find supermarkets, gyms, hotels and shopping centres in almost every five kilometer radius. The city is stretching its limits in areas such as Kukatpally, Nizampet, Miyapur, Bachupally, Kompally, Shamirpet, Uppal, Attapur, Khajaguda, and Chandanagar. These areas are witnessing rapid proliferation of housing colonies be it individual villas, single block apartments or gated communities. Pick any part of the city whether it
Hyderabad: Delay in possession
Mar 19, 2014
HYDERABAD: Consumer forums have filed complaints saying they have not been given possession of their dream house even after paying the lump sum down payment and all those Equated Monthly Instalments (EMIs).
How to plan your real estate purchase
Mar 13, 2014
HYDERABAD: Home is where the heart is – goes the popular adage. It is one of the biggest and probably the most significant investment that entails a lot of planning. The word planning does not necessarily mean mobilisation of funds or scouting for the best home loan offers. Great location and affordable price are common enticements used by real estate developers and builders to lure ‘gullible’ people. People are naïve when it comes to evaluating the cost of an apartment.

Latest Realty News Of State

Realty Talk's