Every property owner in Visakhapatnam, be it a homeowner, a landlord, or a commercial space owner, is required to pay the GVMC property tax.

This local tax, commonly referred to as the Visakhapatnam property tax, is collected by the Greater Visakhapatnam Municipal Corporation (GVMC). The funds are used to maintain roads, provide street lighting, manage sanitation, and improve other civic amenities across the city.

The municipal body relies on this tax to keep daily services running smoothly. Paying on time is not only a legal duty but also helps avoid penalties and interest charges that are applied for late payments.

In this guide, we will explore the house tax in Visakhapatnam in detail, why it matters for property owners, and how understanding the system can also benefit aspiring homeowners planning their home loan applications.

What Is Property Tax in Visakhapatnam?

Property tax in Visakhapatnam is a recurring levy imposed by the Greater Visakhapatnam Municipal Corporation. It applies to all residential and commercial properties, as well as vacant plots of land within the city’s jurisdiction. The revenue collected is channelled into civic services such as road repairs, water supply, waste management, street lighting, and the upkeep of public parks and other community facilities.

Property Tax Visakhapatnam: How to Calculate?

The GVMC calculates property tax based on the size of the property, its location, type of construction, and whether it is used for residential or commercial purposes. Vacant land is also assessed separately. Simply put, the higher the value of the property, the higher the tax.

For aspiring homeowners, it is important to account for this recurring expense when budgeting for a loan. Using a home loan EMI calculator can help you estimate repayments more accurately and plan your finances better, ensuring that property tax payments do not disrupt your monthly cash flow.

Property Tax Rates in Visakhapatnam 

Residential and commercial properties in Visakhapatnam are taxed according to their Annual Rental Value (ARV). The applicable rates are:

For vacant land, the property tax rate is fixed at 0.5% of its annual market value, as notified and revised periodically by the state government.

Tip: When planning long-term finances, it is wise for property buyers to account for these recurring costs in their budget from the outset. Using a home loan eligibility calculator can help you estimate the loan amount you qualify for, making it easier to choose a property that fits your budget while keeping in mind additional expenses such as property tax payments.

Property Tax Visakhapatnam: How to Pay?

Visakhapatnam Municipal Corporation House Tax Online Payment Process

• Visit the official GVMC website.
• Enter your assessment number or property details.
• View your bill and confirm the amount.
• Pay using a debit card, a credit card, net banking, or UPI.
• Download and save the receipt.

Visakhapatnam Municipal Corporation House Tax Offline Payment Process

• Go to the nearest citizen service centre.
• Provide your assessment number or property details.
• Get the tax amount calculated at the counter.
• Pay in cash, cheque, or demand draft.
• Collect the receipt for your records.

Required Documents for Paying Visakhapatnam Property Tax

• Property assessment slip or assessment number.
• Holding number or unique property identification number.
• Previous year’s tax receipt, if available.
• Identity proof, such as Aadhaar, for offline submission.

Please note that additional documentation may be required on a case-by-case basis.

Property Tax Exemptions and Rebates 

Property tax is payable in two instalments – the first by June end and the second by December end. A 5% rebate is given if the tax is cleared before 30th April of the financial year.
Rebates are also linked to the age of the building:

• 25 years or less: 10% deduction on ARV.
• 26 to 40 years: 20% deduction on ARV.
• More than 40 years: 30% deduction on ARV.

Conclusion

Timely payment of GVMC property tax is a key responsibility for every property owner in Visakhapatnam. Be it paying online or offline, keeping your dues clear helps you avoid penalties and keeps essential city services running. For prospective homebuyers too, factoring in property tax is crucial for long-term financial planning, especially when a home loan is part of the picture.

If you’re on the lookout for your dream home in Visakhapatnam, SMFG Grihashakti offers home loans of up to INR 1 crore* to support your purchase. Check your eligibility and apply online to enjoy attractive home loan interest rates starting from 10%* per annum.