Poor response to property tax scheme in Hyderabad
The GHMC announced the scheme but did not publicize it. As a result, many property owners are not aware of it
Jul 22, 2013
Source : The Times of India

 

HYDERABAD: On an average, the Greater Hyderabad Municipal Corporation (GHMC) gives out 1,000 building permissions a month. But new assessments of property tax hardly reach 100 a month, meaning less than 10% of property owners are registering to pay property tax in the entire Greater Hyderabad area.

GHMC commissioner had announced the Voluntary Disclosure Scheme on July 1, urging property owners who have not got assessments done so far to do so before August 31. The commissioner had warned that if anybody was found to have not assessed their property after the due date, he/she would have to pay three years tax apart from interest on the arrears. However, the scheme has seen poor response, with only 93 property owners coming forward so far.

Officials have now started analyzing what went wrong in the system. “Going by the number of building applications, the number of new assessments should be at least 1,000 per month. Apart from these permissions, there are high-rises, both commercial and residential, where the number of units is more and hence assessments should be more. But, only 10 per cent of the building applications are being assessed a month,” a senior GHMC official said. But another official blamed the lack of publicity of the scheme. “The GHMC announced the scheme but did not publicize it. As a result, many property owners are not aware of it,” the official said.

Sources in the GHMC said that as many as 14,885 building permissions were given in 2012-13 and another 3,500 in the past two months. Comparatively, the total permissions given were only 10,221 in 2011-12. In the LB Nagar circle, which is one of the fastest developing areas, over 1,500 property owners had obtained permission to construct buildings in the last one year, but only 88 applications were received for property tax assessment since November 2012. Similarly, over 1,000 buildings were permitted in Kukatpally circle during 2012-13, but only 126 property owners/builders chose to get their property assessed.

Though nearly 13.10 lakh properties were assessed in the city, GHMC officials suspect that at least 3 lakh more are pending due to various reasons, including collusion between corporation staff and property owners. This has made a huge dent in the revenue collection. The corporation has now begun a survey to bring unassessed properties into the tax net by using geographical information system .

When contacted, GHMC additional commissioner ( finance) admitted that there was poor response to the voluntary disclosure scheme. “The tax wing staff could not concentrate on the scheme as they were busy with revision and verification of electoral rolls till July 15,” he added.

 

 

  

Latest Realty News

Singapore, Dubai, London preferred by Indians buying property overseas
Jul 21, 2013
HYDERABAD: DSingapore, Malaysia, New York, Dubai and some cities in the UK, the suburban areas of London in particular, are preferred destinations for Indian property buyers, according to real estate consultancy firm Jones Lang LaSalle.
Technical glitches hit registrar offices in Hyderabad
Jul 19, 2013
HYDERABAD: The registration and stamps (R&S) department is making efforts to implement the revised citizen’s charter to provide better services to the people, but technical glitches have put a spoke in the wheel. Claiming computer glitches and server problems, sub-registrar offices (SRO) are taking nearly a month to hand over registration documents (sale deed) to people, which is supposed to be done in a day.
Low cost realty makes Inorbit Malls plan South India expansion
Jul 19, 2013
HYDERABAD: K Raheja Corporation entity Inorbit Malls India has chalked out a plan to expand its operations significantly in Southern India region thanks to low cost realty in the region compared to other parts of the country, said a top official.
Inorbit scouts for more locations to set up malls
Jul 18, 2013
HYDERABAD: Inorbit Malls, a group company of K Raheja Corp, is scouting for more locations to develop malls, including in Chennai and Bangalore.
India Ratings maintains negative outlook for construction sector
Jul 17, 2013
HYDERABAD: Liquidity related concerns and execution challenges continue to impact the infrastructure sector in the country, according to India Ratings & Research.
Hyderabad: Land rate in Old City rivals posher areas
Jul 17, 2013
HYDERABAD:The swanky and exorbitantly priced commercial stretches of Jubilee Hills, Banjara Hills and Madhapur have found an unexpected but stiff competition from the streets of Old City. And the reason, realty experts say, is none other than the over 400-year-old Charminar.
'Liquidity improvement, faster execution crucial for construction sector'
Jul 13, 2013
HYDERABAD: Liquidity related concerns and execution challenges continue to impact the infrastructure sector in the country, according to India Ratings & Research.
Special drive to identify dilapidated structures in Hyderabad
Jul 11, 2013
HYDERABAD: With the City Light Hotel collapse claiming several lives, the GHMC has decided to take up a special week-long drive to identify dilapidated buildings , especially commercial ones and offices where large number of people congregate, to avert similar incidents.
Credai meet in Moscow from July 27
Jul 11, 2013
HYDERABAD: The Confederation of Real Estate Developers’ Associations of India, the apex body representing private Real Estate developers in the country, will host the 13th Natcon 2013 meeting at The Ritz Carlton, Moscow on July 27-28.
AP to synchronise revenue, land registration depts
Jul 01, 2013
HYDERABAD: The Andhra Pradesh Government will soon synchronise databases of Revenue and Registration Departments, using information technology solutions. This will allow sellers and buyers of land and properties to register from anywhere in the State

Latest Realty News Of State

Realty Talk's