Owners of Commercial Establishments Hit with Doubled Property Tax

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Shop owners have been hit by the 100 percent increase in property tax. The Greater Hyderabad Municipal Corporation (GHMC) has sent notices to the owners of commercial properties with the doubled property tax. Even a 25 percent penalty has been added to the unauthorized constructions.

It has been found that before merging of the peripheral circles with the GHMC, the tax rate in these circles was Rs. 1.10 per square feet. However, many complaints were received that after the merge, it increased to 8 per sq ft. The corporation declared that the revised tax rate had been in effect from past five years and only a 50 percent cap reduction was evident which was in effect from October 2010.

Source: DC

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