Hyderabad people must have few concerns and one among them is the increase in Property tax. Soon after the Greater Hyderabad Municipal Corporation (GHMC) elections ended, there has been a drastic hike in property tax rates for commercial and non-residential buildings.
As per GHMC, it is empowered to revise the property tax rates for buildings once in every five years. GHMC Commissioner B.Janardhan Reddy said, "In the year 2002, the then Municipal Corporation of Hyderabad (MCH) had taken certain decision for enhancing the tax on commercial and business establishments.
But it was not taken up. So we are just trying to recreate the same model after learning from Kanpur Municipality. A group of experts have studied and taken this decision. Right now GHMC collects Rs.680 Crores as Property tax and we set a target of Rs.1100 Crores."
The commissioner also promised to collect the remaining dues by end of this month itself. Residents and inmates of Hyderabad were shell shocked due to this sudden hike.
