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.
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.
In a significant move to ease the financial burden on property owners, the Greater Hyderabad Municipal Corporation (GHMC) has announced a one-time scheme offering a substantial 90% waiver on accumulated interest on property tax arrears. This initiative aims to encourage taxpayers to clear their pending dues and contribute to the city’s development.
The scheme, designed as a one-time opportunity, provides a significant relief to those who have faced difficulties in paying their property taxes on time, leading to the accumulation of interest. By waiving a substantial portion of the interest, the GHMC hopes to bring a large number of defaulters back into the tax-paying fold.
Key Highlights:
- 90% Interest Waiver: Property owners can avail a 90% waiver on the accumulated interest on their property tax arrears.
- One-Time Opportunity: This scheme is a limited-time offer, urging taxpayers to act quickly.
- Ease of Payment: The GHMC is expected to provide various payment options to facilitate the process.
- Benefits to the City: The collected revenue will contribute to the development and maintenance of civic infrastructure.
Who Can Benefit?
The scheme is applicable to all property owners within the GHMC limits who have outstanding property tax dues with accumulated interest. This includes residential, commercial, and industrial properties.
How to Avail the Scheme:
While detailed procedures will be officially released by the GHMC, it is expected that property owners can avail the waiver through:
- Online payment portals.
- GHMC citizen service centers.
- Designated bank branches.
Property owners are advised to stay updated with official GHMC announcements for detailed instructions, deadlines, and required documentation.
The scheme will apply to all properties under GHMC jurisdiction, including residential and commercial properties.
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