90PC Property Tax Waived Off in Telangana Under OTS, Deets Inside

The government of Telangana has decided to give a one-time waiver on the payment of interest on property tax. The Municipal Administration & Urban Development (MA&UD) announced a waiver of 90 percent tax for accumulated arrears of the interest component on property tax under the One Time Scheme (OTS).

A total of Rs. 1,999.24 crore property tax arrears were pending in all Urban Local Bodies, including the Greater Hyderabad Municipal Corporation (GHMC), and the interest on these arrears reached Rs 1,626.83 crore at the end of the Financial Year 2021-22.

The scheme offers a waiver of 90 percent of the accumulated interest on the property tax arrears and the property owners have to pay only 10 percent of their accumulated interest along with the principal amount of property tax before October 31.