Crime Today News
Hyderabad: With an attempt to make the collection of property tax more efficient, fintech major Paytm has joined hands with the Greater Hyderabad Municipal Corporation (GHMC) to roll out digital payment facilities throughout the city.
Under the initiative, Paytm has installed more than 400 All-In-One EDC devices, or card machines, at different tax collection centers and for door-to-door tax collection. The devices enable residents to pay property taxes through credit cards, debit cards, and QR codes, which are seamlessly integrated with the GHMC app to check outstanding dues, make payments in real time, and provide confirmation slips.
With this initiative, GHMC hopes to do away with cash, cheque, and demand draft dealings, making for a quicker, more secure, and convenient payment process.
The body usually collects Rs 5-7 crore in property tax every month across greater Hyderabad, which jumps to Rs 22 crore during times of high season. Paytm’s digital intervention is likely to bring these transactions a long way.
This year, the GHMC achieved a historic milestone by collecting over Rs 2,012.36 crore in property tax (as of 6 pm on March 31).
This marks the highest-ever collection in the civic body’s history.
OTS boosts property tax collection in Hyderabad
A significant portion of this collection – Rs 465.07 crore – was gathered between March 8 and March 31 under the One-Time Settlement (OTS) scheme, which was introduced by the government to encourage timely payments.
With the new financial year beginning, GHMC has announced the Early Bird Scheme. It allows taxpayers in Greater Hyderabad and other municipalities to avail of a 5 percent rebate if they pay their property tax in April 2025.
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