+
AMC & 3 other civic bodies in Marathwada to receive funds Rs 6.8 cr
Real Estate

AMC & 3 other civic bodies in Marathwada to receive funds Rs 6.8 cr

The Aurangabad Municipal Corporation (AMC), and other civic bodies, including Nanded, Parbhani and Latur in Marathwada, will receive funds worth more than Rs 6.8 crore from the state government.

The funds correspond to a 1% surcharge recovered by the state town planning department on the stamp duty paid for different property transactions during 2021-22 to generate funds for infrastructure development in these cities.

The first installment of Rs 235.7 crore of total funds was released in December 2021, while the second installment has now received an official clearance.

The state town planning department said that overall, 26 municipal corporations in the state would receive funds worth Rs 210 crore towards the stated funding.

According to data, AMC will get the maximum share of the funds at Rs 4.86 crore, followed by Nanded-Waghala Municipal Corporation of Rs 1.18 crore, Latur of Rs 61.03 lakh and Parbhani Rs 22.69 lakh.

Pune, Pimpri-Chinchwad and Nashik, Rs 69 crore, Rs 24.97 crore and Rs 10.4 crore, respectively, are among other cities that have received the maximum amount of funds from the state government towards the surcharge levied on the stamp duty.

Rajendra Datey-Patil, a civic activist, said the state government should consider exempting the first homebuyer from paying an additional 1% surcharge on stamp duty. Property taxes have already been governed by a stringent tax regime, and adding more components to them would be a burden for the homebuyers.

Image Source

Also read: Stamp duty collection in Maharashtra declines 17% in Oct-Nov

The Aurangabad Municipal Corporation (AMC), and other civic bodies, including Nanded, Parbhani and Latur in Marathwada, will receive funds worth more than Rs 6.8 crore from the state government. The funds correspond to a 1% surcharge recovered by the state town planning department on the stamp duty paid for different property transactions during 2021-22 to generate funds for infrastructure development in these cities. The first installment of Rs 235.7 crore of total funds was released in December 2021, while the second installment has now received an official clearance. The state town planning department said that overall, 26 municipal corporations in the state would receive funds worth Rs 210 crore towards the stated funding. According to data, AMC will get the maximum share of the funds at Rs 4.86 crore, followed by Nanded-Waghala Municipal Corporation of Rs 1.18 crore, Latur of Rs 61.03 lakh and Parbhani Rs 22.69 lakh. Pune, Pimpri-Chinchwad and Nashik, Rs 69 crore, Rs 24.97 crore and Rs 10.4 crore, respectively, are among other cities that have received the maximum amount of funds from the state government towards the surcharge levied on the stamp duty. Rajendra Datey-Patil, a civic activist, said the state government should consider exempting the first homebuyer from paying an additional 1% surcharge on stamp duty. Property taxes have already been governed by a stringent tax regime, and adding more components to them would be a burden for the homebuyers. Image Source Also read: Stamp duty collection in Maharashtra declines 17% in Oct-Nov

Next Story
Infrastructure Urban

APCRDA Approves Rs 9.04 Bn to Upgrade Infrastructure in 29 Amaravati Villages

The Andhra Pradesh Capital Region Development Authority (APCRDA), chaired by Chief Minister N Chandrababu Naidu, has approved Rs 9.04 billion for addressing key infrastructure gaps in 29 villages within Amaravati’s greenfield capital area, announced Municipal Administration Minister P. Narayana at the 51st CRDA meeting.The funds will be used to upgrade critical facilities including roads, drains, drinking water supply, sewerage systems, and street lighting. A detailed assessment revealed a 30 per cent shortfall in water supply, a total absence of sewerage infrastructure, a 40 per cent defici..

Next Story
Infrastructure Transport

Cabinet Approves Phase-1B of Lucknow Metro Rail Project Worth Rs 58.01 Bn

The Union Cabinet, led by Prime Minister Narendra Modi, has approved Phase-1B of the Lucknow Metro Rail Project in Uttar Pradesh. This phase covers an 11.165 km corridor with 12 stations—7 underground and 5 elevated—extending the city’s metro network to 34 km upon completion.Phase-1B targets the dense, historic parts of Lucknow, enhancing connectivity across key commercial, healthcare, tourist, and culinary hubs. Important areas served include Aminabad, Yahiyaganj, Pandeyganj, Chowk, King George’s Medical University, and landmarks like Bara Imambara and Rumi Darwaza.This expansion prom..

Next Story
Infrastructure Transport

Major Upgrades Planned for Tamil Nadu’s National Waterways

Tamil Nadu is poised for significant infrastructure upgrades across its National Waterways (NWs), with a focus on developing jetties, cargo hubs, and cruise tourism circuits, according to the Ministry of Ports, Shipping and Waterways. These projects aim to promote sustainable inland water transport and boost regional economic activity.Key projects include the development of Buckingham Canal (part of NW-4), with jetties planned at the following locations:Mahabalipuram to Ediyur BridgeCooum River near Marina BeachPulicat LakeEnnore Port to ETPS, specifically for cargo operationsOther National Wa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?