Urban News

  • Increase font size
  • Default font size
  • Decrease font size

Impact fee cut by 30% in city

Print PDF

Deccan Chronicle       08.06.2010

Impact fee cut by 30% in city

June 8th, 2010
DC Correspondent

Hyderabad, June 6: The state government on Monday issued orders giving certain concessions on the payments of city-level infrastructure impact fees.

The impact fee for flats has been reduced by 30 per cent for GHMC and other municipalities, corporations and urban development authorities in state.

The government has also decided to reduce the impact fee by 50 per cent in HMDA areas outside GHMC limits.

The rebate is applicable for projects where building approvals are given for the next two years.

However, to avail of the benefit, developers should start construction within two years from the date of issue of building approval and the same should be completed within six years from the date of issuing building approval.

The instalments for the impact fees can be paid for a further two years with effect from January 20, 2010.

This is applicable to all new and pending applications where the applicants have not paid the impact fee. Applicants will have to give post-dated cheques for the above payments at the time of getting the building permission letter.

In case of ongoing projects that have been approved and where the deferred payment has been availed of, the developer can opt for deferred payment of the impact fee for five years including the period already availed of with 10 equal instalments with no rebate or reduction in the impact fee.