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Financial Management

Pallavaram sewerage project cost has shot up to Rs.74 crore, council told

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Source : The Hindu Date : 02.07.2009

Pallavaram sewerage project cost has shot up to Rs.74 crore, council told

Special Correspondent

TAMBARAM: The cost of the ongoing underground drainage project in the Pallavaram Municipality has risen to more than double its original estimate, the local body’s council was informed on Tuesday.

At a meeting of the municipal council, the elected representatives were informed by municipal chairman E. Karunanidhi that the cost had been revised for the second time since the project work began in January 2006, and had now been put at Rs.74 crore. Construction of more pumping stations, increased cost of construction material, workers’ wages and road cutting charges to be paid to the Highways Department were the three main reasons for the increase in the project cost, Mr. Karunanidhi said.

Three additional pumping stations would be built at Nemilichery, Shankar Nagar and on Anjaneyar Koil Street. The entire project had been split into five packages with the first three pertaining to sinking of domestic lines. Package four comprised the construction of sub-pumping stations and lift stations, while the final package covered the construction of a main pumping station and lines to transport sewage from this facility to the treatment plant at Perungudi.

The original estimate was Rs.36 crore. When preliminary works began, the project cost was revised to Rs.47 crore. Now, the second revision had hiked this to Rs.74 crore. A section of the councillors expressed the fear that ultimately, the residents of the local body would have to bear the brunt of the increased project cost.

Last Updated on Thursday, 02 July 2009 07:37
 

Afforestation drive hits a roadblock

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Source : The Hindu Date : 22.06.2009

Afforestation drive hits a roadblock

P. Oppili

CHENNAI: Lack of financial assistance and support from government departments has resulted in the urban afforestation programme being given the go-by in the current financial year.

Forest Department sources say in the last couple of years, the Tamil Nadu Pollution Control Board (TNPCB) bore 75 per cent of the expenses with the State government providing the remaining cost. Utilising the funds, the Forest Department planted saplings. However, no funds were provided for maintaining the plants.

A senior Forest official says as far as the greening programme is concerned, the Chennai Corporation and Chennai Metropolitan Development Authority should provide financial assistance for implementing it. He says the department provides saplings at a nominal cost to private individuals who evince interest. Left without any funds in the current financial year, it has not raised saplings in its nurseries at Anna Nagar and Velachery.

Another official says there is an increased awareness of the need to plant saplings.But, in the absence of funds, the department is forced to say ‘no’ to tree lovers who approach its nurseries for saplings. On the condition of the 45,000 saplings planted during the last couple of years, the official says in many areas, particularly in the suburbs, resident welfare associations are providing care and attention.

Last Updated on Monday, 22 June 2009 04:44
 

Slowdown hits property sector in Coimbatore

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Source : The Hindu Date : 12.06.2009

Slowdown hits property sector in Coimbatore

M. Soundariya Preetha

4,063 sale documents registered this April

COIMBATORE: The economic slowdown seems to have hit the real estate sector here with transactions coming down in 2008-09.

In April 2008, sale documents registered in the district were 9,107 and it came down to 4,063 in April this year.

The Registration Department here registered all documents related to property, including sale, mortgage, power of attorney, lease, release, will, settlement and agreement to deposit of title deed.

In April-May last year, the total number of documents registered was 23,216. And, it came down to 16,814 in April-May this year.

The Coimbatore Registration office covered Coimbatore, Singanallur, Madukkarai, Thondamuthur, Avinashi, Vadavalli and Mettupalayam.

The global recession, economic slowdown in the country and the impact on the local industries, reduction in purchasing capacity of the public and prices were some of the reasons that had hit transactions, according to an official.

Though the department had seen the revenue growing more than the target in 2005-06, the growth had slowed down now.

Its revenue in the district was about Rs. 297 crore in 2008-09 as against the target of Rs. 340 crore.

However, the revenue was more than last year’s Rs. 273 crore, the official said. Places such as Annur and Avinashi had continued to see a growth.

D.R. Sekar, chairman of the local chapter of the Builders’ Association of India, told The Hindu that there were signs of the sector looking up.

“Enquiries are slowly picking up,” he said. So far, people adopted a wait and watch approach. With a stable Government and a change in the negative outlook of the economy, the property sector was likely to revive soon.

Last Updated on Friday, 12 June 2009 10:59
 


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