GCC collects Rs 334 crore property tax until April 30, highest in Teynampet zone

CHENNAI: The Greater Chennai Corporation (GCC) has collected Rs 334 crore property tax for the current fiscal year 2024 - 2025 till April 30.

The official stated that the Lok Sabha election has impacted the tax collection in the initial period, whereas last year Rs 371 crore was collected in April 2023.

"During the last financial year, it was difficult to collect taxes as it was a crucial period especially after announcing the election date, however, we managed to collect property tax. It has increased by Rs 44 crore compared to the 2022-2023 financial year. Similarly, due to election work we had a tough time to collect tax from the public within the stipulated period for the current fiscal year, " a senior official told DT Next.

He further added, "So far, we have collected Rs 334 crore and 5 percent incentives given to those who have paid within the stipulated time period. But compared to the previous year it has reduced by Rs 37 crore in April month. We have taken measures to intensify the tax collection from May."

Also, various steps have been taken by the city corporation to collect tax along with penalty charges from the property owners and organizations from the defaulters.

The local body has decided to issue notice to the defaulters to pay property taxes on time.

In 2023-2024 financial year, the property tax collection has increased by Rs 44 crore compared to fiscal year 2022-2023.

The Chennai Corporation has collected Rs 1,600 crore.

The highest amount of property tax paid in Teynampet zone (zone 9) is Rs 315 crore. For the current fiscal year, the local body has fixed a target to collect Rs 1,750 crore property tax in the city.