GHMC Considers Monthly Property Tax Payment System
Real Estate

GHMC Considers Monthly Property Tax Payment System

The Greater Hyderabad Municipal Corporation (GHMC) is exploring a new system that would allow property owners to pay their property tax on a monthly basis. This initiative is designed to alleviate the financial strain currently faced by taxpayers, who are required to pay a lump sum annually.

Officials from the GHMC are developing guidelines and amendments to property tax regulations to implement this monthly payment option. Under the proposed system, property taxes would be divided into 12 equal installments, making payments more manageable for homeowners.

This change is expected to benefit both residents and the civic body. By enabling smaller monthly payments, the GHMC aims to reduce the accumulation of tax arrears and facilitate more consistent cash flow. The municipality anticipates monthly collections could range from ?150 crore to ?170 crore, aiding in the funding of various development projects across the city.

A senior official from the GHMC taxation wing indicated that the new framework would likely focus on properties with annual taxes exceeding ?3,000, while smaller assessments under ?101 might not qualify for the monthly payment plan. Discussions are ongoing regarding whether to make monthly payments mandatory or optional, with the possibility of eliminating annual payments altogether.

Currently, there are approximately 19 lakh property tax assessments in Greater Hyderabad, including 12 lakh residential and 7 lakh commercial properties. However, over 2 lakh property owners have outstanding tax dues. For FY 2023-24, the GHMC registered ?1,917 crore in property tax revenue, up by ?257 crore from the previous year, and has set a target of ?2,400 crore for FY 2024-25, having collected ?1,190 crore as of mid-September.

The Greater Hyderabad Municipal Corporation (GHMC) is exploring a new system that would allow property owners to pay their property tax on a monthly basis. This initiative is designed to alleviate the financial strain currently faced by taxpayers, who are required to pay a lump sum annually. Officials from the GHMC are developing guidelines and amendments to property tax regulations to implement this monthly payment option. Under the proposed system, property taxes would be divided into 12 equal installments, making payments more manageable for homeowners. This change is expected to benefit both residents and the civic body. By enabling smaller monthly payments, the GHMC aims to reduce the accumulation of tax arrears and facilitate more consistent cash flow. The municipality anticipates monthly collections could range from ?150 crore to ?170 crore, aiding in the funding of various development projects across the city. A senior official from the GHMC taxation wing indicated that the new framework would likely focus on properties with annual taxes exceeding ?3,000, while smaller assessments under ?101 might not qualify for the monthly payment plan. Discussions are ongoing regarding whether to make monthly payments mandatory or optional, with the possibility of eliminating annual payments altogether. Currently, there are approximately 19 lakh property tax assessments in Greater Hyderabad, including 12 lakh residential and 7 lakh commercial properties. However, over 2 lakh property owners have outstanding tax dues. For FY 2023-24, the GHMC registered ?1,917 crore in property tax revenue, up by ?257 crore from the previous year, and has set a target of ?2,400 crore for FY 2024-25, having collected ?1,190 crore as of mid-September.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement