Chandigarh Housing Board records 53% drop in revenue in FY22
Real Estate

Chandigarh Housing Board records 53% drop in revenue in FY22

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.

Image Source

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

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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement