GHMC netted a record Rs.1,200 crore revenue from property tax

The Greater Hyderabad Municipal Corporation (GHMC) netted a record 1,200 crore on the last day of property tax collection and it expects to earn an additional 10 crore by midnight, officials said.In comparison to the previous year's collection, this year, the civic body has net an additional 175 crore.

Attributing the rise in collection to fresh assessment of properties in its limits, GHMC commissioner B Janardhan Reddy said: “ In a review of assessment for the year 2016-17 we found 42,255 properties which was under assessed. Altogether these properties earned us revenue of



 66.80 crore. About 2,54,384 properties were newly assessed which got us a revenue of 264.14 crore.“

It might be recalled that after the Central government an nounced the demonetization of `500 and 1,00 notes, 1,74,656 tax payers paid their property tax --which was to the tune of `146.74 crores.

The civic chief also claimed that the GHMC was the first in the country to announce lucky draw scheme for online property tax payers. “We wanted to encourage cashless transactions in December, that helped us earn 34.31 crore at the time,“ he added.