Tag: Property tax in Hyderabad

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CAG: Madhapur IT Firms Misappropriated ₹100 Crore in Property Tax

HYDERABAD: The Industrial Area Local Authority (IALA) in Madhapur has reportedly caused a loss of over ₹100 crore to the government by under-assessing property taxes, according to the Comptroller and Auditor General (CAG). The Greater Hyderabad Municipal Corporation (GHMC) mandates that IALA levy property tax according to specific classifications and monthly rental values (MRV). In Madhapur, the MRV for industrial properties was set at ₹4 per square foot for ground and first floors, and ₹3.50 per square foot for upper floors. Meanwhile, office buildings had an MRV of ₹6 per square foot for the ground and first floors, with ₹5.50…

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Telangana’s property tax collections reach ₹100 crore in a day

HYDERABAD: A rigorous enforcement initiative, combined with the current one-time settlement (OTS) scheme, has led to a remarkable increase in property tax collections across three municipal corporations in the core urban area of Telangana, with revenues exceeding Rs 100 crore in a single day. Prior to last week, daily collections ranged from Rs 3 crore to Rs 5 crore. However, in recent days, there has been a substantial surge, with collections reaching Rs 20 crore on Sunday, Rs 50 crore on Monday, and over Rs 100 crore on Tuesday, bringing total collections to around Rs 2,500 crore. Officials attribute this…

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Hyderabad Civic Body Locks 100+ Properties for Tax Dues

HYDERABAD: As the financial year nears its conclusion, the Greater Hyderabad Municipal Corporation (GHMC) is intensifying its actions against long-time property tax defaulters. To date, over 100 significant commercial properties have been sealed, with the GHMC aiming to recover hundreds of crores in unpaid taxes. The GHMC reports that over 30,000 commercial entities—spanning luxury hotels, retail chains, and small shops—have neglected to settle their tax dues. The civic body is now concentrating on the most egregious offenders, sealing their premises to facilitate payment. This crackdown follows numerous ignored notices issued over the years. Notable cases include the Katriya Hotel in…

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Hyderabad’s Property Tax Arrears Exceed ₹3,000 Crore

HYDERABAD: Property tax arrears in the three municipal corporations of Greater Hyderabad have surpassed an alarming ₹3,000 crore, exceeding both the current fiscal’s collections and its target. By the time the ongoing one-time settlement (OTS) scheme—offering a 90% waiver on accumulated interest on arrears—expires on March 31, the total arrears may likely escalate to over ₹5,000 crore. Before the trifurcation of the Greater Hyderabad Municipal Corporation (GHMC), the property tax collection target for this financial year was set at ₹3,000 crore. Thus far, the GHMC, Cyberabad Municipal Corporation (CMC), and Malkajgiri Municipal Corporation (MMC) have collectively managed to gather only…