GHMC announces one-time scheme with 90 pc property tax interest waiver

Representational Image of property tax collection in Hyderabad — Representational Image

Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has launched a one-time scheme to provide relief to property tax payers by offering a 90 percent waiver on accumulated arrear interest.

The announcement, made by the Telangana Government on Friday, March 7, comes as a relief for thousands of property owners in the GHMC jurisdiction who are burdened with pending tax dues. The new initiative is aimed at helping taxpayers clear off their outstanding property tax dues for the financial year 2024-25 and earlier.

What is Hyderabad’s One-Time Scheme for property tax arrears?

Under the “One-Time Scheme” (OTS), property owners are required to pay the principal amount of their property tax dues up to the 2024-25 financial year along with 10 percent of the accumulated interest on the arrears. This will enable them to avail a 90 percent waiver on the total interest accumulated on their arrears.

The scheme also includes a provision for taxpayers who have already paid their dues, including interest and penalties, up to March. Those taxpayers will benefit from an adjustment of 90 percent of the interest and penalties against their future property tax payments.

In the notice, principal secretary to the government, M Dana Kishore, mentioned that the government had thoroughly reviewed the proposal from the Greater Hyderabad Municipal Corporation and decided to implement the One-Time Scheme for property tax owners in the interest of the public.

The scheme will apply to all properties under GHMC jurisdiction, including residential and commercial properties.