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India : HYDERABAD METRO RAIL given notice to pay PROPERTY TAX.

The Metro Rail developer L&T and GHMC over various taxes levied on the former. L&T has been asked to pay Rs 1 crore property tax.

Hyderabad Metro Rail Ltd has been given notices by the GHMC to pay property tax for the built-up area at Miyapur depot, Uppal depot and Quthubullapur.

As per S. Hari Krishna, additional commissioner (revenue) GHMC, We have issued notices to HMRL to pay property tax to the tune of Rs 1 crore for the Metro property at Uppal, Miyapur depot and also Quthubullapur, where L&T has taken land on lease from HMT and set up manufacturing units. A clause in the concession agreement between the government and L&T states that though the land belongs to the government, the property built on the land is liable for property tax and has to be paid by the concessionaire. In this case, L&T is the concessionaire".

V.B. Gadgil, chief executive and MD of Metro Rail (Hyderabad) stated, The government is supposed to give us certain concessions. And the notices issued are to HMRL, and it is between the government and the HMRL to resolve the issue .

According to HMRL MD N.V.S Reddy, Paying of taxes and providing power at special rates are to be dealt by different departments of the government. These things will be discussed, and we will arrive at a decision.

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Publication:Mena Report
Geographic Code:9INDI
Date:Mar 25, 2014
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