Hassle-free online mutation, assessment of properties
Hyderabad: To ensure a hassle free experience for the general public and to bring all new properties under the tax net, an online mutation and assessment system of properties has been introduced by the State government. Under this new approach, at the time of registration of any existing property that was already assessed to property […]
Hyderabad: To ensure a hassle free experience for the general public and to bring all new properties under the tax net, an online mutation and assessment system of properties has been introduced by the State government.
Under this new approach, at the time of registration of any existing property that was already assessed to property tax/ vacant land tax, the property is automatically mutated in the name of the new owner. The mutation process is done right at the time of registration without changing the Property Tax Identification Number (PTIN) / Vacant Land Tax Number (VLTN) and the tax amount.
If the registered property is new or not assessed to property tax/ vacant land tax, a new PTIN/VLTN is generated at the time of registration by the Inspector General of Registration and Stamps (IGRS) Office and sent to the Greater Hyderabad Municipal Corporation (GHMC).
On receipt of PTIN/VLTN with property details from the Registration & Stamps Department, the GHMC will generate property tax to residential properties with a monthly rental value of Rs.1.25 per sft for Jubilee Hills Circle and Re.1 per sft for the remaining 29 Circles in GHMC limits. In case of vacant land, the vacant land tax (VLT) i.e. 0.50% of registration value is generated.
On the assessment of their property to property tax/ vacant land tax, the person will receive SMS with two links, one to download the assessment copy and another for property tax payment.
Speaking about the new module, GHMC officials said that the Registration & Stamps Department will only generate the demand of property tax or vacant land tax, the collection and all other activities will be done by the civic body and the revenue generated will also go to the GHMC coffers.
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