Commercial property of Secunderabad Cantonment Board doubles up, Real Estate News, ET RealEstate

Secunderabad: to amend it in the existing land use plan, Secunderabad Cantonment Board ,SCB) has decided to make way for more commercial Assets – double the current count of 10,000 – to bring additional mullahs to your treasury.

The Board has sent its proposal to the Principal Director, Southern Command, Pune for approval and if given the green signal, it will be placed in the next meeting.

Sources in the SCB said that if the plan is approved, the board will get a major relief, which is set to lose a major chunk of its revenue from November 1, once the collection of toll tax from good vehicles is banned. has given. This step is being implemented under an order of the Ministry of Defense.

As per the blueprint the SCB has proposed eight types of sectors (residential, commercial, mixed, limited mixed, economically weaker section, institutional sector, green sector, army/defense and government) – commercial is the highest revenue generator.

Officials who prepared it said the number of commercial properties could double if the plan is approved.

At present, the records of the SCB tax wing show that more than 10,000 commercial properties are paying tax in the range of 40 to 60 crores per annum. Apart from this, the board also earns about 60 lakhs annually through trade license.
“While we do not have any vacant land on the side of the road to set up commercial units, if the new land use plan is approved we can convert some existing residential buildings to commercial use through certain procedures. Also, many property owners are using their residential spaces for commercial purpose without permission, a senior official of the SCB tax wing said.

He also said that the move would give a boost to commercial activities in the Secunderabad Cantonment Board area where commercial units like hotels, grocery stores, apparel units, hospitals, function halls and shopping malls are located around the factory. Trimulgherry, bowenpally, Bolarum, Sikh Village and Tadband. In addition, the new land use plan will also allow for a mixed use area that includes both residential and commercial areas.