CHENNAI: Revenue department of Greater Chennai Corporation (GCC) has set a target of 500 crore in property tax collections during the incentive period of the first half of 2025-2026 financial year. This follows a record-breaking collection of 2,023 crore in 2024-2025, the highest in the last 16 fiscal years.
The civic body offers a 5% incentive on the net property tax payable for those who settle their dues between April 1 and 30, with a maximum discount of 5,000.
In 2023-24, the civic body collected 879 crore in property tax during the first half and 1,144 crore in the second half. City revenue officer K Bhanuchandran said, “We achieved our target and even surpassed it in the previous fiscal. It was possible because we collected 379 crore during the same period during the incentive period.”
Meanwhile, in a move to streamline tax data management, the Chennai corporation has decided to privatize statistical record-keeping. The company will be asked to maintain records of property and professional tax collections and dues. A tender was floated in March for a year to enhance efficiency in tax collection and administration. “This year, we aim to increase it to 500 crore,” he said. Officials have also planned to send tax reminders through WhatsApp, along with QR codes for instant payment.
The initiative has been well received by property owners, many of whom are taking advantage of the incentive scheme. “By paying our taxes on time, we were able to save some money and avoid penalties. I feel that the incentive period or the discount percentage should be increased to encourage more people to pay at the earliest,” said C Raghukumar from Perambur. Many taxpayers opted for early payment in 2024-25. Officials are hoping that the trend will help them meet their collection targets this year too.
