What is the GHMC Property Tax?

Introduction

Many municipalities use their state’s property tax levy to maintain and develop civic amenities. Like other municipal corporations, Greater Hyderabad Municipal Corporation (GHMC) levies taxes on property owners in the state. The GHMC property tax is used to maintain roads, drainage systems, the cleanliness of areas, and many more things that affect the livelihood of people in society.

Table of Contents

• GHMC Property Tax
• What Is the Calculation of GHMC Property Tax?
• Greater Hyderabad Municipal Corporation Property Tax Rates
• Property Tax Calculation Method
• Residential Property Tax in Hyderabad
• Commercial Property Tax in Hyderabad
• Date to Pay the GHMC Property Tax
• Get GHMC Tax Application Number
• Offline Assessment of Property
• Online Assessment of Property

Property tax is levied by the state government. However, it is largely delegated to several municipalities. Levy basis and method of calculation are different from each other. The mode of payment is also different. This article provides a complete understanding of GHMC property tax, its payment methods, and exemptions.

GHMC Property Tax

Property owners in Hyderabad have to pay their property taxes to GHMC every year. In fact, as discussed earlier, these funds will be used to provide superior Hyderabad public services.

Annual rental values are the basis for the collection of GHMC tax payments. In the case of residential units, it is calculated based on slab rates. As the tax value varies with respect to location, the general public is advised to check the GHMC website for tax calculation.

What Is the Calculation of GHMC Property Tax?

GHMC property tax is still calculated whether you live in your property or rent it out. GHMC considers two distinct categories of properties. Residential properties come first. Next are business assets. The following factors affect the tax payable:

• Property Location
• Size of property
• Property under construction
• Gender of the property owner
• Age of property owner

Greater Hyderabad Municipal Corporation Property Tax Rates

Various property tax rates as per Greater Hyderabad Municipal Corporation (GHMC) are given below. Check them out.

Property Tax Calculation Method

To pay property tax in Hyderabad, whether it is a residential property or a commercial property, it is important to know the exact calculation methods. This article will help you calculate the property tax payable every year.

The annual property tax is calculated as follows

A= [GARV X (17% to 30%) (This is the slab rate fixed by GHMC) – 10% depreciation value]
B = 8% Library Cess GARV = Plinth Area X Monthly Rental Value in INR/ Square feet X 12
Annual Property Tax = A+B

Residential Property Tax in Hyderabad

Before Greater Hyderabad Municipal Corporation, let’s work on a quick calculation to arrive at the annual property tax. To understand the calculation principle, you need to understand some terms on tax calculation.

Plinth Area: This is the entire construction area. It also has balconies and garages. If you occupy the space, the rental value of properties in the same area will be considered. If the property is rented out, it is necessary to consider the rental value in the rental agreement. The total amount calculated as annual rent is called Gross Annual Rental Value (GARV).

Commercial Property Tax in Hyderabad

Every Monthly rent for commercial properties is determined by GHMC based on the value

• Taxation Zones
• Type of Construction
• Usage of the Property

Date to Pay the GHMC Property Tax

Wondering when to pay tax dues on time? The last date for half-yearly property tax payments is July 31 every year. The last date for annual property tax payments is October 15. Failure to pay property tax will result in, a penalty of 2% of the outstanding amount every month.

Besides, Greater Hyderabad Municipal Corporation takes the initiative in encouraging people to pay property tax on time. In fact, in 2016-17, a lucky draw will be announced for property owners who have paid their taxes ahead of time.

Get GHMC Tax Application Number

Property owners in Hyderabad can pay GHMC property tax online using Property Tax Identification Number (PTIN). However, there are two ways to get PTIN if it is a new property.

1. Online Assessment of the Property
2. Offline Assessment of the Property

For an existing, property, you can get PTIN using the below method.

• Visit official link https://onlinepayments.ghmc.gov.in/.
• Click on ‘Search Your Property Tax’ on the left side of the screen.
• Enter the circle name.
• Enter the Door number or house number.
• Click on Search Property Tax and you can find PTIN Number GHMC for your property.

Offline Assessment of Property

Property tax must be paid to GHMC Hyderabad if the property is assessed. One of the modes of property determination is through the manual execution of a process. When you buy a new property in Hyderabad, you must submit a GHMC House Tax application to the Deputy Commissioner. Documents you need to submit.

• Sale deed, gift deed, partition deed that is registered and attested by a gazette officer.
• Building Sanction Plan Paper Copy
• Occupancy certificate

Online Assessment of Property

You can also start the assessment of GHMC property tax calculation online. Follow the steps mentioned below to start the verification process.

• Step 1: Visit the below mentioned website https://sa.ghmc.gov.in/.
• Step 2: Enter your mobile number and access the self-assessment form.
• Step 3: Fill all the details and don’t forget to fill those marked in red color
• Step 4: Upload the PDF documents of
  • Link documents attested by gazette officer.
  • Building Grant Plan – Copy
  • Upload the copy of occupancy certificate.
• Step 5: Click on Declarations
• Step 6: Click on Save

Conclusion

Everyone is aware that property taxes are levied by the state government. The Levy basis and method of calculation are different from each other. The mode of payment is also different. For more information, visit Openplot.

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