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

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code