Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) levies more tax on vacant land than assessed from owners of buildings and other structures in the city. According to the GHMC Act, registration value of 5 per cent for a land or plot can be collected as vacant land tax (VLT) by the Hyderabad Municipal Corporation. Once the building is constructed on the plot, owner will have to pay property tax according to the standard property tax assessment procedure.The provision of imposing higher property tax on vacant land has been incorporated in the Act to discourage land owners from keeping their properties vacant for long time. GHMC officials said that VLT has been serving as a huge burden on plot owners in the city.Hyderabad government has recently revised land rates in various areas. At Prashasan Nagar in Jubilee hills it has been increased to Rs 45000 per square yard, while in Madhapur it has hiked to Rs 30000 per square yard and at Srinagar Colony it reached Rs 20000 per square yard.According to the high court declaration levying tax on vacant land other than the land of the building provided under section 212 (2) of the Act has been stated as unauthorized and illegal. GHMC has renamed VLT to property tax (on land) as the Act has a separate nomenclature for VLT.GHMC records show that VLT has been collected from about 1600 property owners from all circles in the city. City has thousands of vacant plots in Greater Hyderabad Limits and it is nearly impossible to track all the land owners to levy VLT on their vacant land. GHMC has been collecting VLT from such land owners when they approach the municipal corporation asking for building permissions.займ на карту без отказов круглосуточновзять кредит онлайн