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« EMAAR MGF Boulder Hills Golf and Country Club At Gachibowli | Home | INVEST In Property To Beat INFLATION »

GHMC Gets Rs 200Cr Through BPS Scheme

Posted by Pradeep Sadanapalli | April 26, 2008 | 959 views

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Property owners from posh localities of Jubilee Hills, Banjara Hills and surrounding areas are thronging municipal offices for regularisation of unauthorised constructions and deviations.

So far residents from these upmarket areas have paid close to Rs 30 crore to the Greater Hyderabad Municipal Corporation as penalisation charges. This is only 50 per cent of the amount; the remaining would be paid at the time of regularisation of properties.

Over 3,700 applications have been submitted from Circle-V covering areas of Banjara Hills, Jubilee Hills, Erragadda, Khairatabad, Sanathnagar, Rahmathnagar, Yousufguda, and surrounding areas. Officials are expecting that penalisation charges from upmarket areas in Circle-V will cross Rs 75-crore-mark by this month-end.

Though the Malkajgiri municipal circle tops in terms of number of applications submitted under BPS, which stands at over 3,800, the penalisation amount paid is less than Rs 5 crore as the land value is far less when compared to Banjara Hills and Jubilee Hills.

After Circle-V, Secunderabad tops the list in terms of money being paid towards penalisation charges. Nearly Rs 10 crore has been paid by 2,200-odd applicants so far.

At the bottom of the list, both in terms of applications and penalisation charges are the municipal circles of Rama Chandra Puram and Patancheru with Rs 10 and 15 lakh respectively.

The GHMC officials have so far raised Rs 200 crore, of which 50 per cent has already been paid.

The Greater Hyderabad Municipal Corporation chief city planner, Mr Purushothama Reddy, said: “The property owners, particularly flat owners, are coming forward to submit applications.” As far as Layout Regularisation Scheme is concerned, over 4,500 applications have been received.

SOURCES:
Deccan Chronicle

Topics: Property Matters |

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