GHMC has launched a new property assessment system, as well as a vacant land tax.
GHMC has launched a new property assessment system, as well as a vacant land tax
The GHMC, in a press note, expressed that the existing property tax system is not citizen-friendly and tough to assess. Respectively, the new system hopes to settle issues with the following changes:
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On registering existing properties, already assessed to property tax/vacant land tax, the property is automatically mutated in the name of the new owner without changing the existing PTIN/VLTN.
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If the registered property is new/not assessed to property tax/vacant land tax, a new PTIN/VLTN is generated and sent to GHMC online. On obtaining PTIN/VLTN with property details from the Registration Department, GHMC generates property tax for residential properties within a month.
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Rental Values are ₹1.25 per sqft for Jubilee Hills Circle and ₹1.00 per sqft for others.
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For Vacant Lands, tax is generated online at @0.50% of Registration Value.
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On assessing properties for property tax/vacant land tax, citizens will receive an SMS with two links, one to download the assessment copy, and another for payment of property tax.
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The new system will guarantee that all properties registered are assessed to property/vacant land tax immediately without any human involvement.
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Eradicate any constraints and stimulate citizens to pay taxes quickly.
Disclaimer: The information provided above is for informational purposes only. https://propertyadviser.in does not guarantee the accuracy, completeness, or reliability of property.
