Over 7.5 lakh assessments generate Rs 7.65 crore under early bird scheme for 2023-24
Published Date – Monday, 01 May 23 at 09:00 AM
Hyderabad: The early bird scheme has generated a record Rs 7.65 billion in property taxes since the inception of the Hyderabad Municipal Corporation (GHMC).
Under the scheme for the 2023-24 financial year starting April 1 and ending April 30, the assessment of more than Rs 7.5 lakh had generated Rs 7.65 crore as at 8pm on Sunday. On Sunday alone, the last day to avail the scheme, Rs 50 crore was generated by 8pm.
In the financial year 2022-23, GHMC generated revenue of Rs 741.35 crore and seeing this good response, a target of Rs 750 crore was set for the current financial year. To the surprise of civic group officials, funds raised on Sunday surpassed the target by Rs 500 crore.
Owners receive a 5% property tax rebate under the Early Bird Program. Tax refunds are only for taxes owed for the year, not for what is owed.
Early Bird Favorites:
2017-18: Rs 3,625.5 crore
2018-19: Rs 432.48 crore
2019-20: Rs 535.54 crore
2020-21: Rs 5,722.9 crore
2021-22: Rs 5,411.6 crore
2022-23: Rs 7,413.5 crore
2023-24 (before 8pm on Sunday): Rs 7.65 crore
