Chandigarh Housing Board records 53% drop in revenue in FY22

01 Mar 2022

The Chandigarh Housing Board (CHB) has recorded a dip of 53% in its revenue than what it had aimed in the current financial year that ends on March 31, managing just Rs 223.52 crore out of Rs 476.58 crore.

The board has additionally failed in its expenditure aim, spending Rs 114.01 crore out of Rs 202.54 it had expected.

The reason is the dilly-dallying on several housing schemes.The drop in the receipts in the updated estimates is because of the non-finalisation of schemes in Sector 53, UT Employees Housing Scheme and that in IT Park against which conditions were made in the previous year and decrease in the receipt of the transfer fee under the tatkal scheme, as per the agenda of the budget estimates. The projects figure in the expenditure segment apart from the development of B block of CHB and executing the Sixth Pay Commission for employees.

Both these budgetary concerns will come up with discussion and permission on Tuesday in the board meeting to be chaired by the UT adviser, who is additionally the CHB chairman. A total of 15 agenda items are recorded. For the coming financial year, the authority has set a revenue target of Rs 436.05 crore and Rs 293.11 crore under expenditure.

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Also read: CHB seeks environmental approval for IT Park housing scheme

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