Thursday , August 24 2017
Hyderabad India

GHMC to collect Vacant Land Tax from plot owners

GHMC to collect Vacant Land Tax from plot owners

Hyderabad: In a move to increase revenues in the city, GHMC has decided on collecting Vacant Land Tax (VLT) from plot owners starting this year.

Now people owning vacant plots in the city limits will have to shell vacant tax starting this year said the GHMC officials.

According to the sources, the officials are planning to send notices to 60,000 people having open vacant plots with the city limits registered in their names. The list will cover names of people who have registered their names in the past two years.

Deputy municipal commissioners (DMC) of all circles in Hyderabad have been asked to send notifications to the plot owners.

GHMC is also in talks of making the VLT payment mandatory for registering of plots. Though the Property tax is based on the square feet of the land, the proposed VLT will be 0.5% of the property value and shall be paid until the building is constructed.

The GHMC Act has the provision of collecting VLT on open plots like property tax on buildings, the Municipal Corporation until now has not implemented the provision in city limits but now have decided to make it mandatory.