Property tax in Chennai is calculated by the Greater Chennai Corporation (GCC) based on the Annual Rental Value (ARV) system under the Chennai City Municipal Corporation Act, 1919. But how is property tax calculated in Chennai? The tax is determined by considering the property’s location, type, usage, and built-up area.
How Property Tax is Calculated in Chennai?
The GCC assesses the property’s expected yearly rent based on:
Plinth Area (built-up area in sq.ft.)
Usage (residential, commercial, or mixed)
Location-Based Rate (zonal classification)
The tax is computed as a percentage of ARV:
Residential Properties: 11% of ARV
Commercial/Other Properties: 15% of ARV
Additional charges like drainage tax (3%) and scavenging tax (2%) are also levied.
Rebates & Adjustments –
Self-Occupied Properties get a 25% deduction on ARV.
Prompt Payment Discount (5-10%) if paid before the due date.
Penalties (1-2% per month) for late payments.
Property owners can use the GCC’s online tax calculator (
Chennai Corporation Portal) by entering their Property ID (PID) or manually inputting details like zone, area, and usage.
Property tax payments can be made online via the GCC portal or at designated banks. Regular updates on reassessment and exemptions (e.g., for senior citizens) are notified by the Corporation.
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The property tax calculator is an essential tool for figuring out how is property tax calculated in Chennai. The online property tax portal for Chennai provides access to the property tax calculator.
How to Calculate Property Tax in Chennai?
Visit this
Property Tax Calculatorportal
Here you will have to click on the property tax calculator button
To indicate where your property is located and for which you must pay the Chennai Corporation property tax, you must now choose the zone, ward, and street name.
Add the floor details in each of the residential and non residential portion
Finally, click on the “compute demand”
This will help you with the property tax estimate that you must pay.
In Chennai the basic property tax rate for residential properties is between Rs. 0.60 and Rs. 2.40 per square foot. The property tax rate in Chennai for non-residential developments ranges from Rs 4 to Rs 12 per square foot.
I hope this information helps you with how property tax is calculated in Chennai.
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How is Property Tax Calculated in Chennai?
Santosh
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2024-04-29T14:14:59+00:00 2024-04-29T14:15:00+00:00Comment
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