Ghmc Revenue: Decrease in GHMC revenue due to reduction in building permits | News from Hyderabad

Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has witnessed a significant drop in the number of building permissions granted within the city limits. In the financial year 2022-23, the civic body has given green light for the construction of 13,748 buildings, including 13,522 residential properties. In contrast, the following year, 2023-24, saw a drastic reduction in building permits, with only 2,456 permits being issued. This drop in building permits has had a substantial impact on GHMC revenue, with officials reporting a staggering drop of over Rs 300 crore from Rs 1,454 crore in FY 2022-23 to Rs 1,107 crore in FY 2023-24. Authorities pointed to the implementation of the polling code, which was in place during both the assembly and parliamentary elections, as the main reason for this decline in construction activity and the subsequent loss of revenue for the municipal corporation. According to the GHMC, during 2023-2024, 13,641 approvals were granted, of which 11,074 are related to building permits and 2,567 are related to occupancy certificates. The maximum building height permitted in the city during 2023-24 was 188.6 meters for a residential project consisting of 51 floors at Kancha Gachibowli. “The period from October to December of the previous year, as well as March of this year, saw a decrease in transactions due to the implementation of the electoral code. As a result, many developers and estate agents may have chosen to delay their applications for building permits. The impact of the election code on the real estate industry has been significant, resulting in many projects being temporarily suspended,” said a GHMC official. Applications for building permits and certificates of occupancy are processed through the Telangana State Building Permit Approval and Self-Certification System (TSbPASS). Individual building applications are applied through instant registration/approval and single window process.

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