The real estate sector in Nashik has started showing signs of improvement as over 5,100 building proposals were approved during the last fiscal.
This helped the the Nashik Municipal Corporation (NMC) collect a revenue of Rs 356 crore towards various taxes of the town planning department. The NMC earns revenue through building permission fee, layouts fee, hardship premium, development charges and fee related to unauthorised constructions.
Out of the 356 crore, Rs 193 crore was collected in the last four months of the financial year — between December 1 and March 31. An NMC official said the civic body gave approval to 5,174 building plan proposals during the last fiscal year.
“December 31, 2021, was the last day for offline submission of building plans. The online submission of plans started from January 1, 2022,” the official said.
“Moreover, December 31 was also the last date to avail 50% concession in premium charges. As a result, over 3,000 building plans proposals were submitted in December alone,” the official added.
Builders, who submitted their plans in December, paid the development fee, premium and other charges in the next three months (from January to March).