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Builders in Pune can use deposit notes for wider payments

The Pune Municipal Corporation has determined to lengthen the utility of credit score notes supplied to builders after the standing committee authorised the proposal.

These notes can now be used to make repayments of property tax, sky signal branch tax, street digging prices and water charges.

The civic physique had allowed deposit notes solely for constructing permissions when they have been first permitted in January. These notes are given to contractors for the building of the roads on a public-private partnership basis. Roads are constructed besides giving money to the builders as the Pune Municipal Corporation has misplaced plenty of income in the pandemic.

“Income sources are restricted now for the civic body. We have to locate preferences like deposit notes. They are the want of the hour for improvement projects,” Hemant Rasane, chairman of the standing committee, said.

The PMC had deliberate to enable redemption of these savings notes solely for the building permissions charges.

“If we choose greater builders to come forward, we have to enable exclusive kinds of charge by way of savings notes. It helps in gaining a proper response to the policy,” BJP corporator Mahesh Wable, who gave the supplementary note, said.

The PMC has deliberate to improve roads and bridges on the strains of public-private partnership. Under this initiative, credit score certificates will be given for the improvement of facilities. These certificates can be used by means of builders for paying a number of costs pertaining to constructing permissions such as improvement charges, constructing permission costs and top-rate charges.

If the land is no longer on hand with the PMC already, builders will have to take it from the non-public landowners the usage of TDR or FSI. At least 80% of land ought to be in the possession of the builders for allocation of these notes.

Roads and bridges proposed to be constructed via this initiative are in Hadapsar, Kharadi and Mundhwa areas.

The PMC has proposed that deposit notes be given in phases primarily based on the growth of the avenue works. The builders will be capable to put to use savings notes up to Rs 200 crore per yr via these credit score notes.

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