Tax rebates have once again proved to be effective as the Greater Hyderabad Municipal Corporation (GHMC) raked in an impressive Rs 1,917 crore in property tax for 2023-24. Notably, a major chunk of that collection came from the Early Bird Scheme (EBS) at the start of the financial year and the One-Time Scheme (OTS) at the end. Over Rs 500 crore was collected in March 2024 alone, with the tax paid under the OTS being Rs 319.59 crore up to 10 pm on March 31.
The scheme exempted 90 per cent of interest on property tax arrears provided one cleared the principal amount of tax up to 2022-23. The EBS in April 2023 saw a collection of Rs 765 crore, generated from over 7.5 lakh assessments.