GHMC slashes impact fee for establishment on commercial stretches
It will apply to new commercial stretches as well as the existing ones
Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has reduced the impact fee on establishments located on the roads which are marked as commercial stretches. The civic body on Friday rolled out a list of 118 roads in the city that have been declared as commercial stretches from now on. Keeping in mind traffic density, noise pollution and space crunch, the government did not agree to the suggestion to declare all 100-feet wide roads in the city as commercial stretches.
The road from Madhura Nagar Colony (near Wells Fargo) to Nanakramguda Outer Ring Road exit, Road Number 45, Jubilee Hills (from HDFC bank) to UMI Group (plot number 860 A), Himmatpura to Moti Galli (Bahadurpura), Kothapet (near Omni Hospital) to Nagole X Road and Balanagar (Narsapur X Road to Gandimaisamma) are some among the new commercial stretches.
The deducted fee applies to the new stretches as well as the existing ones in the GHMC limits. Hospitals and education institutions will benefit the most from the impact fee being slashed. For these establishments, the fee has dipped by 50 per cent. Apart from hospitals, nursing homes and educational institutions, standalone stores like grocery and salons will also benefit. The fee for all these establishments ranges from Rs 50 per sqft to Rs 100 per sqft. This fee does not apply to jewellery stores, supermarkets or retail chains.
As per the new GO, for hospitals and schools that operate in G+I buildings, the impact fee is 2% or Rs 100 per sqft. If the establishment is operating from a building with more than one floor, the fee is 1% or Rs 50 per sqft. For shopping malls and office spaces, the fee is almost the same. Earlier a lump sum rate was charged based on the category of the road, however, now the fee will be based on the land value and as per use of the building.
Developing parking lots
In order to address the parking issues on these newly-declared commercial roads, the owners of vacant lands, vacant plots, will be encouraged to develop their lands/plots into parking lots. They can also develop them into multi-level parking or regular parking lots, either by themselves or in collaboration with the GHMC.
Also read:
GHMC releases list of commercial stretches in Hyderabad
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
