|     |     |    |    |     |     |  
Pune civic body nets Rs 90 crore through instalment plan for builders
not available
Pune civic body nets Rs 90 crore through instalment plan for builders
Publish on : 2020-10-31 20:42:15
“The scheme has been well-received by the beneficiaries and [many] proposals for building permissions have been submitted. We are hoping to generate good revenue from this scheme,” city engineer Prashant Waghmare said. PUNE: An instalment scheme for builders under which they are allowed to pay development charges in a staggered manner has helped the Pune Municipal Corporation mop up Rs90 crore in revenue. “The scheme has been well-received by the beneficiaries and [many] proposals for building permissions have been submitted. We are hoping to generate good revenue from this scheme,” city engineer Prashant Waghmare said. PMC had introduced the scheme in July to revive its flagging revenue collection during the pandemic. Under the scheme, builders of projects that attract development charges of more than Rs50 lakh will be allowed to pay the charges in instalments (see graphic). Payment must be made in the first, 12th and 24th month from the date of approval of the project for three-year instalment plans, and the 36th month as well for a four-year plan. PMC will levy an 8.5% interest on the beneficiaries, and charge an 18% penalty on delayed instalments. A senior civic official said PMC had recovered only Rs40 crore in the first quarter of the ongoing fiscal before the scheme was introduced. “In the four months after the introduction of the scheme, the revenue has more than doubled,” the official said. Around 4,500 building permissions are given annually, earning PMC Rs700 crore.

@2019 TeamUp. All rights reserved. Site visitors are subject to our Privacy Policy and Terms of use.