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Economic slowdown tells on civic budget but no new taxes likely

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  • Builders, brace for hike in scrutiny & devp charges
    The BMC is banking heavily on revision of development charges, which are currently at Rs 250 per sq meter. It had proposed a revision of Rs 850 per sq meter, which is awaiting the final approval of the state Urban Development Department.
    “We are in talks with the State authorities to approve the proposal soon so that we will be able to fill in the income gap which is created due to the recession,” said DP Chief Engineer Ashok Shintre. The civic administration is also considering doubling the amount of scrutiny fees, which are charged at every step during verification of building plans and construction until the last approval of Occupation Certificate is given.
    Currently, the scrutiny fees are approximately Rs 2/ sq feet (residential), Rs 4/ sq feet (commercial) and Rs 3/sq feet (industrial). Senior civic officials said that the rates are too low and may be hiked by two or even three times in the coming months.

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