Uttar Pradesh Government Lowers Rental Values in Ghaziabad to Ease Property Tax Burden
UP govt announces revised rental values for Ghaziabad
Hindustan Times
Image: Hindustan Times
The Uttar Pradesh government has announced a slight reduction in rental values for properties in Ghaziabad, aiming to ease the financial burden of property taxes. This revision, effective in the coming days, is expected to result in an overall property tax increase of about 10-12%, following significant protests against previous tax hikes.
- 01Uttar Pradesh government has reduced rental values in Ghaziabad.
- 02The effective property tax increase will be about 10-12%.
- 03Residents protested against previous tax hikes that increased their burden significantly.
- 04Property owners will have three months to pay outstanding taxes without penalties.
- 05Revised rental values for properties with concrete roofs are now ₹3.4, ₹2.98, and ₹2.55 per sq ft.
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The Uttar Pradesh government has communicated a slight reduction in rental values for properties in Ghaziabad, with the aim of alleviating the financial burden of property taxes on residents. City mayor Sunita Dayal and municipal commissioner Vikramaditya Malik announced that the new rates will be implemented shortly, leading to an effective property tax increase of approximately 10-12%. This decision comes after significant protests from residents and various associations against previous tax hikes, which had reportedly increased their tax burden by three to five times. The revised rental values for properties with reinforced concrete roofs on roads at least 24 meters wide are set at ₹3.4, ₹2.98, and ₹2.55 per square foot for categories A, B, and C, respectively, reflecting a reduction from the previous rates established in April 2024. Property owners who did not pay their taxes in the past year will be granted a three-month window to settle their dues without incurring penalties. The government aims to balance revenue generation for development while providing relief to residents.
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This reduction in rental values is expected to provide some financial relief to property owners in Ghaziabad, potentially easing the burden of property taxes that had significantly increased in recent years.
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