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Property tax is the tax that is levied on property owners. It is regulated by state governments and is one of the major sources of income for the state. Property tax collected is utilized in the maintenance and upkeep of the civic amenities and the localities. This upkeep of local amenities includes maintaining the roads, sewage, public areas like parks, public toilets, etc. This requires micro management every step of the way and hence, the state government delegates the levy of property tax to the municipalities and the municipal corporations. This leads to a difference in the levy, computation and mode of payment.
Greater Hyderabad Municipal Corporation (GHMC) is the municipal corporation of Hyderabad that is in charge of levying property tax in Hyderabad. It uses annual rental value as the basis for levy of property tax. The mode of taxation adopted by GHMC is based on the slab rates.
GHMC provides a property tax calculator on its website. Property owners can get an estimate of the property tax to be paid according to GHMC by going to their website and submitting the relevant details. There may be slight variations based on the exact location of a particular property but the property owners get a fair idea of the amount to be paid.
Given below are the details relating to the property tax levied by the Hyderabad Municipality.
About GHMC Property Tax
GHMC has provided the exact formula and rates to be applied for calculation of property tax to be levied on properties that are within its purview. There are separate formulas for calculation of property tax on residential properties and commercial properties. The details of the same are provided below.
Residential Property Tax
Formula for calculation of Property tax on Residential Property is-
Annual residential property tax = GARV × (Slab rate−10% Depreciation) × 8% Library Cess
GARV (Gross Annual Rental Value) = Plinth area x Monthly rental value in Rs/ sq ft x 12
Plinth area refers to the total built-up area which includes balconies and garages.
The slab rates in the above formula are determined as follows.
Up to 50
51 – 100
101 – 200
201 – 300
300 and above
In case of Self occupied properties, rent charged on other similar properties in the same locality is considered to determine the Monthly Rental Value (MRV). For let-out properties, MRV is determined based on the rental agreement with the tenant.
Commercial Property Tax
The calculation for property tax on commercial properties is determined based on the following formula adopted by the GHMC.
Annual Property Tax = 3.5 x Plinth Area x Monthly Rental Value in Rs/sq.ft.
In case of Commercial properties, the GHMC determines the MRV based on various factors like taxation zone, type of construction and property usage.
Property tax is to be paid half yearly to GHMC. The due dates for the same are 31st July and 15th October.
Delay in payment of property tax to GHMC is liable to the levy of a penalty of 2% per month to be calculated on the outstanding amount.
In order to encourage the property owners to clear the arrears as well as current dues of property tax, GHMC awards cash rewards to the property owners via a lucky draw to the assessees who pay their dues before the due dates.
Following are the key points pertaining to the assessment of property tax as per GHMC
GHMC also provides the facility of online self assessment of the property. For this process, the property owner has to submit the new assessment application online along with necessary details such as Occupation Certificate (OC) and Building Permission Number, name of the locality, nature of building, usage, plinth area, etc. these details will enable the property owner to get the estimated property tax amount.
The online application is then forwarded to the respective Deputy Commissioner, after which a Tax Inspector (TI) or Valuation Officer (VO) will visit the property for physical inspection. Post successful inspection, the applicable tax rate is levied and the property will be allotted a unique PTIN.
The unique PTIN issued to every property owner is a 10 digit number which can be used to pay the property tax via online mode.
Online Payment of Property Tax
Offline Payment of Property Tax
Property owners can also make an offline payment of the property tax via a cheque or a demand draft drawn in favour of ‘Commissioner, GHMC’. This cheque or demand draft can be deposited with any of the following options
Certain cases where the payment of property tax is exempted by GHMC or is at a concession are mentioned below,
1. What is the penalty charged on delayed payment of property tax?
The penalty charged on delayed property tax payment is 2% per month on the outstanding amount.
2. What are the due dates for payment of property tax as per the rules of GHMC?
The due dates for payment of property tax (which is to be paid on half yearly basis) as per rules of GHMC are 31st of July and 15th of October.
3. How can one pay property tax as per GHMC?
The property tax under GHMC can be paid either via online mode (through GHMC website) or via offline mode (via cheque or demand draft).
4. What is the full form of GARV?
The full form of GARV is Gross Annual Rental Value which is a component used in the calculation of the residential property tax levied by GHMC.
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