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The Greater Visakhapatnam Municipal Corporation has recorded property tax collections exceeding INR 510 crore for the ongoing financial year, surpassing the previous year's total of INR 500 crore with days remaining in the fiscal cycle. The civic body is aiming to reach INR 600 crore by the end of the month, supported by a state government initiative offering a 50% interest waiver on pending dues. Collection efforts have been driven by recovery of arrears, vacant land tax assessments and payments from large private entities. The milestone highlights improved revenue mobilisation by the municipal authority, which is responsible for urban governance and infrastructure services in Visakhapatnam.
The Greater Visakhapatnam Municipal Corporation has surpassed INR 510 crore in property tax collections for the current financial year, achieving a record figure in the final days of the fiscal cycle in Visakhapatnam, Andhra Pradesh, driven by focused recovery efforts and policy support aimed at improving compliance. Advertisement
The latest collection exceeds the previous year's total of INR 500 crore and has been achieved with approximately a week remaining before the close of accounts. Officials indicated that the civic body is targeting a further increase to around INR 600 crore by the end of the financial year, which would mark the highest-ever property tax collection for the corporation.
A key factor contributing to the rise in collections has been a state government decision to provide a 50% waiver on interest for pending property tax dues. The measure has encouraged property owners to clear outstanding liabilities, easing the financial burden on taxpayers while improving revenue inflows for the municipal authority. Officials noted that the waiver applies to both building tax and vacant land tax arrears.
Out of an additional demand of approximately INR 80 crore raised during the year, the corporation has already realised around INR 50 crore. Revenue authorities reported that a significant portion of the collections came from efforts to recover long-pending dues and expand the base of vacant land tax assessments.
Large-value payments have also contributed to the overall increase. A major industrial entity cleared around INR 23 crore in revised tax dues, while newly assessed vacant land tax collections accounted for approximately INR 15 crore. In addition, a private infrastructure company paid about INR 10 crore following a fresh demand raised during the year.
Officials stated that the corporation expects further inflows in the closing days of the fiscal year, with ongoing efforts to recover pending dues from private entities and other defaulters. The intensified collection drive has been supported by targeted enforcement and improved administrative processes, enabling higher realisation against revised demand.
The performance reflects the growing importance of property tax as a primary revenue source for urban local bodies, which rely on such collections to fund civic infrastructure, public services and urban development initiatives. In Visakhapatnam, the municipal corporation oversees a large urban jurisdiction and is responsible for planning, taxation and service delivery across residential, commercial and industrial segments.
The improved collection figures are expected to strengthen the civic body's financial position, providing greater capacity to support infrastructure projects and service delivery as the city continues to expand.
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