Telangana - GHMC seals properties of Tax Defaulters in Hyderabad
In the city, the Greater hyderabad Municipal Corporation (GHMC) has sealed more than 150 homes and started legal action against those who have not paid their property taxes. DC indicated that the majority of these sites are business establishments.
Properties in hyderabad sealed due to outstanding dues
The company took this measure because it owed thousands of rupees in overdue property taxes. In the last 30 days, over 150 houses in the kukatpally Zone were shut, according to the study. In addition, properties in Hyderabad's Yosufguda, LB Nagar, and jubilee hills neighborhoods were shut.
Residential property owners can pay tax using OTS
Owners of residential properties are urged to pay up their arrears using the One Time Scheme (OTS). Ninety percent of the interest accrued on property tax arrears has been forgiven by the government under the initiative.
The resumption of office employment is driving up rental rates in some parts of hyderabad, which is good news for the real estate industry. Over the previous two years, the city has seen an average increase in rentals of 25%. The increase hasn't been consistent, though; certain Hyderabadi neighborhoods have seen rent increases while others have seen static development.