Pune: The building permit department of Pune Municipal Corporation (PMC) has received a record income for the first three quarters of the Fiscal Year 2021-22, crossing the annual target in nine months.
By opposing the annual Crore RS1.185 target, PMC has so far produced RS1,527 Crore from building permits.
Discounts in FSI premiums and relaxation of locking restrictions have increased department revenues.
According to PMC data, the income is less than Rs 800 Crore for the department in the past four years.
Pre-pandemic building permits are allocated for new projects and for rebuilding projects.
Demand for both continues after locking restrictions.
In accordance with PMCS data, the income is three times more than the last fiscal.
Income at 2020-21was Rs 508 Crore and on 2021-22 to December 1,527 crore Rs.
Revenue for 2018-19 is Rs 655 Crore, and for 2019-20 it stands at RS770 Crore.
According to PMC officials, around RS 250 Crore is expected in the next three months.
Consumption for the transfer of development rights (TDR) down and the use of Premium FSI rises.
The state government has provided a 50% discount of Premium FSI.
It can be utilized until December 31.
In addition, department revenues as high as Rs 400 Crore for December because many proposals were delivered at the end of December because the developers wanted to benefit from discounts.
“The availability of workforce is one of the main reasons behind the break in the real estate business during the initial Covid-19 pandemic period experienced last year.
Only projects where housing is permitted to operate.
This has been revealed.
Number of projects in the regions Civil, “said Senior PMC official, chose to remain unnamed.
After limiting the labor movement was canceled, smaller projects began to collect momentum once again.
This finally encourages overall income from the department.
In accordance with citizenship officials in knowledge, demand for housing has risen from home buyers, encouraging the construction of private housing projects.