State Government Waives off Interest on Property Tax Arrears

26 March 2011: The interest on commercial property tax arrears of the previous years, till 2010-2011, under the Greater Hyderabad, Greater Visakhapatnam and Greater Vijayawada zones are waived off by state government. But this waiver can be obtained only if the tax arrears are paid in in lump sum before March 31. The already paid interest will be adjusted against the next year’s property tax payments, as the cash is not refundable.

In the circle of Greater Hyderabad, it is found that there are 8.5 lakh property owners who have paid tax and among them 6.5 lakh have paid along with the interest. The interest paid amounted to Rs.33 crore, which will be adjusted in future tax payments. There are still 3 lakh owners who are yet to pay the property tax arrears and dues for the current year, which amounts to Rs.250 crore.

The GHMC meanwhile has decided on allocations for up gradation of various departments. It announced a fund of Rs.50 crore for the up gradation of 14 fire stations in the city. The GHMC has also approved increase in wages of contract employees in the GHMC and allotment of 1,500 sq. land in Shamshiguda at Balanagar for the purpose of construction of 33/11 KV substation to the Central Discom.

The GHMC has also decided to hold grievance redressal on every Monday at all the GHMC zonal offices.

Source: Deccan Chronicle