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GHMC likely to back-off from 2BHK
Citing severe fund crunch, the Greater Hyderabad Municipal Corporation (GHMC) is contemplating to back off from the flagship double bedroom housing project for the urban poor in the city limits.
Hyderabad: Citing severe fund crunch, the Greater Hyderabad Municipal Corporation (GHMC) is contemplating to back off from the flagship double bedroom housing project for the urban poor in the city limits.
The recent decision by the State government to bear the infrastructure cost of Rs 1.5 lakh per each dwelling unit will burden the civic body with Rs 1,500 crore. In addition, the corporation has also to bear a burden of about Rs 50 crore in the form of goods and services tax (GST).
The unit cost set for G+3 structures was Rs 7 lakh, Rs 7.65 lakh for G+5 and Rs 7.9 lakh for G+9. He said the government had increased the unit cost from Rs 3.8 lakh to Rs 5.5 lakh and the Union government would share Rs 1.5 lakh on each unit under the 2BHK housing project.
According to highly placed sources in the corporation, the government asked the civic body on June 29 to bear Rs 1.5 lakh infrastructure cost per each unit. It has also released a GOMs 4 in this regard. Sources said the civic body besides paying the infrastructure cost was also asked to 12 per cent GST for tenders which were invited after June 30. This would burden the civic body additional 7 per cent to the previous value-added tax (VAT) (currently 5 per cent).
When enquired about it, a senior GHMC official told The Hans India that the civic body is not in a position to bear about Rs 1,550 crore in two financial years, as the target set by the government to complete by December 2018. He said the civic body has been already started the Strategic Road Development Plan (SRDP) which also another ambitious project embarked by the government with Rs 1,550 crore.
He said the civic body is not in a financial position to take up both the projects. The GHMC official further said that in the wake of above reasons, the corporation is planning to seek the help of the government on the 2BHK housing besides seeking clarity on the payment of GST on the current infrastructure project.
By Maddy Deekshith
