Visakhapatnam civic body gets 30% more in building plan charge
ECONOMY & POLICY

Visakhapatnam civic body gets 30% more in building plan charge

The Greater Visakhapatnam Municipal Corporation received 6,755 online applications for building plan approvals in 2022. The civic body has so far given nod for 5,025 plans, while it rejected 26 applications on various grounds. The remaining 1,704 applications are in various stages of processing.

The GVMC realised Rs 2.08 billion revenue by approving these plans in 2022. There is more than 30% increase in its revenue compared to the Rs 1.50 billion that it could gain through building plan approval charges in 2021. The GVMC received 6,144 applications in 2021.

Of the nearly 6,500 that the corporation scrutinised in both 2021 and 2022, about 5,500 applications came from the individual residences. About 500 applications were related to the apartment developers. The remaining applications fell into other categories. Similarly, the civic body collected 670 million more property tax in 2022 compared to that of the corresponding period last year.

In absolute terms, the GVMC realised Rs 2.64 billion property tax as of December 20 compared to 1.97 billion in 2021. The property tax collections stood at 112 crore in April alone with 5% early bird offer this year compared to 81 crore in April 2021.

GVMC commissioner P Raja Babu said the GVMC has renewed its focus on increasing its revenue sources. It aims to collect 67 crore more property tax in 2022 compared to last year. Even on the long-pending arrears front, several organisations paid 35 crore out of the 100 crore dues. Negotiations are on to collect the entire tax dues.

The GVMC will streamline its revenue generation by the end of this fiscal, including parking fees, shop leases, building plan approval charges, vacant land tax, etc. The GVMC will also explore new revenue generation avenues.

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The Greater Visakhapatnam Municipal Corporation received 6,755 online applications for building plan approvals in 2022. The civic body has so far given nod for 5,025 plans, while it rejected 26 applications on various grounds. The remaining 1,704 applications are in various stages of processing. The GVMC realised Rs 2.08 billion revenue by approving these plans in 2022. There is more than 30% increase in its revenue compared to the Rs 1.50 billion that it could gain through building plan approval charges in 2021. The GVMC received 6,144 applications in 2021. Of the nearly 6,500 that the corporation scrutinised in both 2021 and 2022, about 5,500 applications came from the individual residences. About 500 applications were related to the apartment developers. The remaining applications fell into other categories. Similarly, the civic body collected 670 million more property tax in 2022 compared to that of the corresponding period last year. In absolute terms, the GVMC realised Rs 2.64 billion property tax as of December 20 compared to 1.97 billion in 2021. The property tax collections stood at 112 crore in April alone with 5% early bird offer this year compared to 81 crore in April 2021. GVMC commissioner P Raja Babu said the GVMC has renewed its focus on increasing its revenue sources. It aims to collect 67 crore more property tax in 2022 compared to last year. Even on the long-pending arrears front, several organisations paid 35 crore out of the 100 crore dues. Negotiations are on to collect the entire tax dues. The GVMC will streamline its revenue generation by the end of this fiscal, including parking fees, shop leases, building plan approval charges, vacant land tax, etc. The GVMC will also explore new revenue generation avenues. Also Read Anil Kumar Lahoti next Railway Board Chairman, CEO. ADB and JICA starts evaluating loan proposals for Delhi

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