Greater Hyderabad Municipal Corporation records show real estate boom
Hyderabad: Given the revenue generated from building permissions, Hyderabad's real estate boom has seen a steep rise. In 2015-16, Greater Hyderabad Municipal Corporation’s town planning wing collected Rs 522 crore as building permission fee/charges as against Rs 506.17 crore collected in the previous fiscal. The Town Planning wing also collected Rs 110.25 crore for building regularisations and Rs 60.51 crore for layout regularisations.
In 2015-16, the GHMC received 9,807 applications for building permission against 9,331 in 2014-15. Out of these, 6,844 permissions were granted, 1,561 returned for more documents, 583 rejected and the rest are under process.
Out of the total 2,231 applications received for occupancy certificates in 2015-16, 1,350 were issued, 499 rejected for incomplete works and 255 rejected for violations.
For layout regularisation, 761 were applications received in Greater Hyderabad jurisdiction. These will be regularised and approved as part of the 100-day action plan.
In order to increase real estate activities in Hyderabad, the state government has made certain relaxations such as reducing the slab rate of city level infrastructure impact fee for multi-storied buildings. There has thus been an increase in the number of applications, said GHMC authorities.
In the past five months, at least 17 major residential project companies have shown interest and have individually applied for building permissions in the city. This relates to 8,403 residential units that will be constructed in Hyderabad.
