Under the Early Bird Scheme for the fiscal year 2023-24, Rs 765 crore was produced from over 7.5 lakh evaluations
Published Date – 09:00 AM, Mon – 1 May 23
Hyderabad: For the very first time because the development of the Greater Hyderabad Municipal Corporation (GHMC), a record real estate tax to the tune of Rs 765 crore was produced under the Early Bird Scheme.
Under the plan for the fiscal year 2023-24 that began on April 1 and ended on April 30, by 8 pm on Sunday, Rs 765 crore was produced from over 7.5 lakh evaluations. On Sunday alone, the last day to get the plan, Rs 50 crore profits was produced till 8 pm.
In the fiscal year 2022-23, the GHMC produced Rs 741.35 crore profits and seeing this good reaction, this fiscal year, a target of Rs 750 crore was set. To the enjoyable surprise of the civic body authorities, Rs 50 crore was gathered on Sunday exceeding the target.
Under the Early Bird Scheme, a 5 percent refund is used on real estate tax to building owners. The refund is provided just on the existing year’s tax and not on the financial obligations.
Early Bird Collection:
2017-18 : Rs 362.55 crore
2018-19 : Rs 432.48 crore
2019-20 : Rs 535.54 crore
2020-21 : Rs 572.29 crore
2021-22 : Rs 541.16 crore
2022-23 : Rs 741.35 crore
2023-24 (till 8 pm on Sunday): Rs.765 crore
