CHENNAI, Aug. 15 -- The Greater Chennai Corporation has decided to put on hold the tax revision exercise with immediate effect, following the severe backlash the civic body received from the residential property owners and commercial establishments.

"Several grievance petitions were received from the public over the past few days, requesting a reconsideration of the revision...upon careful examination of the revision and associated grievances raised by the public, has decided to put on hold the tax revision with immediate effect." it said in a statement.

State minister R Nirmal Kumar also clarified that only 'reassessment' of buildings both residential and commercial were taking place and there was no hike in proper taxes. "Property tax...