Following relaxations in lock down rules, construction activity is gaining momentum. The town planning department of Nashik Municipal Corporation (NMC) is earning a revenue in the form of permission to delayed housing projects and new construction projects. It has earned a revenue of Rs 20 crore in the last three months.
Though a target of Rs 218 crore was given to the town planning department for the financial year 2019-20, it had earned Rs 195 crore till January, 2020. A target of Rs 350 crore had been given for new financial year. However, NMC had suffered huge revenue loss due to outbreak of Corona virus.
In contrast, the town planning department had earned a revenue of Rs 60 crore in April, May and June last year. Due to Corona, NMC got a revenue of only Rs 20.10 crore in the first three months.
The town planning department is earning a revenue in the form of permission for construction, hardship premium fee, possession certificate, FSI, TDR infrastructure fee, sewage connection fee, sub-tax based on construction expenses, zoning certificate, city plan development fee and layout development fee.
The real estate sector had highly affected due to outbreak of Corona virus. All constructions were stalled as migrant laborers returned to their home towns.