Funds sanctioned to three corporations towards property tax dues

The Telangana authorities has sanctioned ₹1,686.39 crore for colony of long-pending spot taxation arrears connected authorities properties falling nether the limits of the Greater Hyderabad Municipal Corporation (GHMC), Cyberabad Municipal Corporation (CMC) and Malkajgiri Municipal Corporation (MMC) done a One Time Settlement (OTS) scheme. 

The authorisation was issued by the Metropolitan Area and Urban Development (MA&UD) Department connected Wednesday. The bid follows an earlier authorities determination approving the implementation of the OTS strategy for the 2026–27 fiscal year, offering a 100% waiver connected accumulated involvement and penalties connected outstanding spot taxation dues relating to authorities properties. 

Under the scheme, the authorities volition wide the arrears done due instalments wrong 1 twelvemonth to the municipal corporations concerned. The Finance Department had already issued fund merchandise orders for the magnitude connected May 26 successful relaxation of treasury power and quarterly regularisation orders. 

Of the full sanctioned amount, ₹1,585.41 crore has been allocated to GHMC, ₹24.87 crore to CMC and ₹76.11 crore to MMC towards colony of spot taxation arrears.