Telangana Government Introduces One-Time Scheme

The Telangana state government has issued a directive for the adoption of the One Time Scheme (OTS) across all urban local bodies (ULBs), including the Greater Hyderabad Municipal Corporation (GHMC). This initiative is geared towards alleviating the financial strain faced by property owners who are grappling with mounting arrears interest on property tax payments.

Scope of the OTS

• Applicable to private and government properties within ULB jurisdictions.
• Offers a waiver of 90% on accrued arrears interest.

Eligibility Criteria

• Property owners with accumulated arrears interest until FY 2022-2023 eligible.
• Must clear principal dues up to specified period and pay 10% interest in one go.
• Also open to taxpayers who settled dues, including interest/penalties, until March 2023.

Adjustment of Interest

• 90% of waived interest adjusted against future payments.
• Facilitates long-term compliance with property tax obligations.

Implementation and Implications

• Reflects proactive approach by Telangana government to address financial challenges.
• Aims to alleviate financial strain on taxpayers and bolster revenue collection for ULBs.

OTS: A Commitment to Property Owners and Municipal Sustainability

• OTS introduction signifies commitment to supporting property owners and ensuring sustainable municipal finances.
• Promotes enhanced financial stability and regulatory compliance in Telangana’s urban landscape.