The Hindu : Andhra Pradesh / Hyderabad News : Property tax: GHMC sure of 300 cr.

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Wednesday, Mar 26, 2008
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Property tax: GHMC sure of 300 cr.

Special Correspondent

HYDERABAD: The GHMC is confident of reaching the Rs. 300 crore mark in property tax collection with less than a week remaining for the financial year closure. Though the target was initially projected at Rs. 50 crore more, authorities have decided to scale it down on account of government announced sops to waive penalty to arrears.

“We stand to lose at least Rs. 60 crore by waiving the penalty interest amount of two per cent per month in all the 18 municipal circles,” explained Additional Commissioner (Finance) B. Ramesh Babu. As on Tuesday, total collections stood at Rs. 275 crore and Mr. Babu is quite sure of mopping up Rs. 25 crore more in the next few days. The target from the suburbs was about Rs. 80 crore when compared to Rs. 54 crore collected by all the 12 erstwhile municipalities last year.

The collection from the suburbs could be about Rs. 70 crore this year, he said. Last year, ex-MCH got a record Rs. 210 crore. This year, GHMC has managed to cross the figure even after none of the Central Government organisations including defence and railways paid up citing a constitutional rule or a court case.

The GHMC will also be equipped with a Greater Hyderabad Municipal Corporation Act 2008 when the government introduces a bill in the Legislative Assembly on Thursday.The new Act will replace the Hyderabad Municipal Corporation Act of 1955.

The new Act will empower the Government to notify delimitation of 150 election wards from the current 100 in the erstwhile MCH. Each ward is to have population between 30,000 and 35,000.

Central Zone forming the core area is likely to have 50 wards, South Zone - 43 wards, North Zone - 26 and East Zone - 17.

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