Property costs struck the roof covering in Secunderabad Cantonment Board

Hyderabad: As the merging strategy of Secunderabad Cantonment Board with the Greater Hyderabad Municipal Corporation is getting energy, the residential or commercial property costs in the Cantonment location are soaring. Locals mentioned that as quickly as the board was created for excision of civil locations of the SCB and also combine them with GHMC, the prices of property and also business residential or commercial property have actually been increasing.

In the prime place in SCB limitations that consists of Marrepally, Mahendra Hills, Bowenpally, Trimulgherry the price per square backyard is Rs 80,000 to 1.5 lakh per square lawns on property and also Rs 1 lakh to 2.5 lakh per sq.yd for business residential or commercial property.

“It takes almost two years for getting a permission for building approval as the board meeting is held once in a blue moon. There are also certain restrictions implied for getting a building approval like even of the plot is at buffer zone or not, the owners should get an NOC from the airport. All these restrictions will be remoced after the merger of SCB and GHMC,” stated S Ravinder, local of SCB and also Executive participant ofVikas Manch

While GHMC locations bordering Secuderabad Cantonment, consisting of Malkajgiri, Alwal, Kukatpally and also Kapra are seeing the surge of high-rises, SCB continues to be with its decades-old G +2 FSI standard. While GHMC allows its homeowner for boosting past permitted floorings (past G +3). FSI needs to rule out auto parking, storage, or veranda as built-up locations and also business areas in household designs yet in SCB all these are consisted of. There has actually been an extreme boost in residential or commercial property costs after the board was created excision of civil locations of the SCB,” said Devender, a builder.

“After the statement of hamburger of GHMC and also SCB, the residential or commercial property prices in SCB climbed instantly. Locals have actually been required to invest significant quantities for having a residential or commercial property. GHMC stamp obligation for enrollment of homes is 7.5 percent yet SCB residents are paying 11 percent which is 3.5 percent greater thanGHMC The primary factor behind this is the Transfer of Property Tax (TPT), which belongs of the enrollment costs. We will certainly have the ability to make use of all the advantages as soon as GHMC and also SCB merges,” stated T Satish Gupta, president of Vasavi Nagar Welfare Association.

Restrictions under SCB

SCB just permits upto 1.5 flooring area index (FSI)

Locals pay 11 percent stamp obligation for enrollment of homes which is 3.5 times greater than GHMC

It takes nearly 2 years for obtaining an approval for constructing authorization as the board conference is held once in a while

SCB residents explain that as soon as GHMC and also SCB combines they will certainly have the ability to make use of all advantages without constraint

In the prime place in SCB limitations that consists of Marredpally, Mahendra Hills, Bowenpally, Trimulgherryy the price per square backyard is Rs 80,000 to 1.5 lakh per square lawns on property and also Rs 1 lakh to 2.5 lakh per sq.yd for business residential or commercial property