December 5, 2022

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How to Pay Property Tax Online in Hyderabad?

ghmc property tax

Hyderabad is the only city in India to have witnessed a steady growth in its property sales, starting from the year 2013, a report suggests. Owing to factors like political stability, the capital of Telangana witnessed a soaring demand in its real estate market with individuals from various parts of India looking to settle in this city.

Now, while there are several formalities and responsibilities that accrue when purchasing a property, one of the most significant among them is the payment of property taxes. The Greater Hyderabad Municipal Corporation or GHMC property tax is collected annually from property owners in Hyderabad.

Following is an elaboration on this property tax and how you can pay it online.

What does the GHMC tax on property entail?

Property tax is one of the principal sources through which states generate revenue to meet various financial requirements. Owners of properties in respective cities are required to pay their property taxes levied, which in turn is utilised to fund maintenance of public facilities, infrastructural developments, etc.

The GHMC property tax is collected on the basis of factors like – size and location of the property, whether it is ready for occupancy or under construction and amenities offered by the municipality in the particular area. Factors like gender and age of the taxpayer are also taken into consideration while determining the tax bracket.

This tax, levied annually, can be paid by individuals both online and offline. Timely payment of these taxes helps one qualify for a loan against property by meeting a few simple eligibility criteria. It also serves as an essential document when availing any mortgage loan. 

Online method to pay the GHMC house tax – 

Individuals can pay their property taxes in Hyderabad online in the following steps.

Step 1 – Know your property tax identification number

The property tax identification number or PTIN is a unique 14-digit number that is assigned by the state to each property. Individuals can find their PTIN by providing their house number at the Telangana government’s official CDMA website.

In case you have purchased a new property which has not yet been assigned a PTIN, you will have to submit a property tax application form to the respective deputy commissioner, alongside the sale deed and occupancy certificate.

Step 2 – Calculating the tax amount

After obtaining the PTIN number, individuals will need to calculate the amount of tax to pay for their properties. One can do this easily by visiting the GMC website and availing its automated tax calculation process.

To do so, however, one will have to calculate their house’s total plinth area and their monthly rent. With this, the tax will be calculated automatically using the formula – 

Plinth area of the house X monthly rent paid per sq. ft. X % of tax levied by GHMC – 10% depreciation + 8% cess for library

The above two steps mostly pertain to the information that one must be aware of to pay his/her GHMC property tax. After learning their PTIN and calculating the tax payable, individuals can follow the steps below to pay their tax online.

Step 3 – Paying the tax online

To pay the tax, visit GHMC’s online portal and follow the steps below –

  • Enter your PTIN at the designated space.
  • Navigate and click on the tab marked – Know the property taxes due.
  • Check and verify details like PTIN, amount to be paid, house number, etc.
  • Choose the payment option.
  • Fill up the required information and click on the ‘Pay’ option.
  • Wait for confirmation of successful payment processing.

You can, thus, make your property tax payment online without any hassle by following these steps mentioned above.

The GHMC property tax receipt serves as an essential document when availing credit, especially secured advances like a loan against property.

It is a secured advance that can be utilised to meet any number of financial obligations. You can apply for a loan against property for education to make property purchase as well. It comes with a high loan value of up to Rs.3.5 crore, available at attractive fixed or floating interest rate.

When availing such advances, one can also enjoy pre-approved offers from financial institutions that make availing the advance faster and easier. These offers are available on various financial products like loan against property, home loans, etc. One can check the pre-approved offer by providing his/her name and contact details.

There are, however, a few things that you need to know before applying for a loan against property that you must be mindful of.

As for property tax payment in Hyderabad, you must make timely payment of the statutory liability as it indicates your efficiency in managing finances while meeting legal obligations. Also, make sure to collect the receipt of successful payment for future references.