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No de-mon effect on construction sector in city
Vijayawada: Construction activity continues unabated in the Vijayawada Municipal Corporation limits in spite of the impact of demonetisation of high denomination notes.
Vijayawada: Construction activity continues unabated in the Vijayawada Municipal Corporation limits in spite of the impact of demonetisation of high denomination notes.
The affect of demonetisation is seems is very less as the Vijayawada Municipal Corporation is receiving the same number of applications during the pre as well as post demonetisation.
It may be noted that the Union government’s announcement of demonetisation of high value notes on November 8 had crashed the business activity in the city more than two months.
In spite of the huge impact on economy and common people, the VMC town planning department is receiving applications seeking permission for construction of structures either residential or commercial.
The Vijayawada Municipal Corporation has received 432 applications seeking permission for the construction of either residential or non residential structures in the city. During the period of January and October, the civic body received 1,513 applications with the average figure of 151 a month.
There is little impact of demonetisation on the construction of residential and non-residential structures in the city. The civic body received 432 online applications seeking permission for constructions between November and January with average monthly figure of 141.
During the first 15 days of February, the civic body received 102 online applications seeking permission for constructions in the city.
By and large, the town planning department of the Vijayawada Municipal Corporation has earned Rs 115 crore revenue during this financial year till February.
It earned Rs 58 crore under the Building Penalisation Scheme and Rs 57 crore as fee for issuing licence for the construction of houses, penalties and other earnings.
A senior officer of the town planning section said there is no impact of demonetisation on receiving the online applications for construction of either residential or commercial constructions in the city.
He said the online building plans system implemented by the Vijayawada Municipal Corporation for more than a year is very useful to the applicants as it is very easy and fast. He said the town planning officials will inspect the buildings whether they are constructed as per the plan as well as norms.
