Published: Updated – 10:58 PM, Fri – 1 Apr 22
Hyderabad: Ignoring the pandemic hangover, the Greater Hyderabad Municipal Corporation (GHMC) urban planning wing recorded a 73% increase in revenue this financial year compared to the previous year. The total revenue generated this year was Rs 1,144.08 crore compared to Rs 661 crore in 2020-21.
During this financial year, the company issued 17,572 building permits and 1,550 certificates of occupancy (OC) against 11,538 building permits and 1,574 OC in 2020-21.
Meanwhile, the GHMC, in a press statement, attributed the increase in construction activity to state government policies and their implementation under the leadership of MA&UD Minister KT Rama Rao.
The huge real estate growth is also due to the massive and continuous development of infrastructure in different parts of the city and the availability of amenities throughout the city. The construction of flyovers and the development of connecting roads to facilitate traffic, the supply of drinking water to all citizens, the uninterrupted power supply and the maintenance of public order have also helped to attract new commercial projects and homes in Hyderabad, according to the company.
Furthermore, the introduction of Telangana State Building Permits Approval and Self-Certification System (TS-bPASS) by the state government has ensured hassle-free building permits, increasing the number of requests and their timely disposal, officials said.
Regarding the decline in revenue in 2020-2021, GHMC said that the Covid-19 pandemic has shaken its coffers and with several sectors suffering losses, the state government has granted installment facility for the payment of building permit. Other factors that hurt construction activity in 2020-21 also included labor shortages in construction during the lockdown and afterwards.
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