GHMC collects record property tax of Rs 765 crore under Early Bird Scheme
Under the Early Bird Scheme for the financial year 2023-24, Rs 765 crore was generated from over 7.5 lakh assessments
Hyderabad: For the first time since the formation of the Greater Hyderabad Municipal Corporation (GHMC), a record property tax to the tune of Rs 765 crore was generated under the Early Bird Scheme.
Under the scheme for the financial year 2023-24 that commenced on April 1 and ended on April 30, by 8 pm on Sunday, Rs 765 crore was generated from over 7.5 lakh assessments. On Sunday alone, the last day to avail the scheme, Rs 50 crore revenue was generated till 8 pm.
In the financial year 2022-23, the GHMC generated Rs 741.35 crore revenue and seeing this good response, this financial year, a target of Rs 750 crore was set. To the pleasant surprise of the civic body officials, Rs 50 crore was collected on Sunday surpassing the target.
Under the Early Bird Scheme, a 5 per cent rebate is offered on property tax to building owners. The rebate is given only on the current year’s tax and not on the arrears.
Early Bird Collection:
2017-18 : Rs 362.55 crore
2018-19 : Rs 432.48 crore
2019-20 : Rs 535.54 crore
2020-21 : Rs 572.29 crore
2021-22 : Rs 541.16 crore
2022-23 : Rs 741.35 crore
2023-24 (till 8 pm on Sunday): Rs.765 crore
