Secunderabad Cantonment Board (SCB) is hoping to increasing revenue by taxing around 1,200-1,500 buildings that have come up recently. The SCB tax wing has taken up a marathon exercise in the past five months to assess property tax on existing/new buildings.
“During the assessment we noticed that residential properties outnumber commercial ones in SCB. Out of eight SCB wards, we found new residential buildings in six, mostly in Mahendra Hills, Bowenpally, Trimulgherry and Bolarum,” an SCB tax official said. “The SCB earned Rs 26 crore in 2021 fiscal and we are expecting Rs 30 crore this year,” SCB deputy CEO Vijaykumar Balan Nair.
There are 15,000 to 20,000 properties, including residential and commercial, and demand notices have been served wherever applicable, an SCB tax employee said.
Property owners have to pay their taxes by March 31. After the date, notices would be served and subsequently a fine of Rs 100/month along with 1% on total outstanding will have to be paid for delay, the deputy CEO said.
As a final resort, SCB officials will seal the property owing taxes after a final notice period of 30 days.