City builders cheer over relaxation of impact fee
Hyderabad: The recent order issued by the State government extending the City Level Infrastructure Impact Fee (CLIIF) has brought cheers on the faces of builders of the city. The builders now have an option of paying their impact fee in six equal installments instead of paying it at one go. The decision is likely to benefit more than thousand builders especially those involved in the construction of high risers.
The GO related to the extension had expired on January, 2014. Earlier, the builders had been demanding the erstwhile undivided Andhra Pradesh State to change the pattern payments to installments.
However, the then rulers of the State just ignored the issue despite many representations by the various builders' body, including the state chapter of CREDAI (Confederation of Real Estate Developers' Association of India), given to the government. The CREDAI was instrumental in the issuance of the GO when Y S Rajasekhara Reddy was the CM of the undivided AP State.
Speaking to media, the CREDAI President C Sekhar Reddy said that they were happy to see the issuance of orders extending the date. 'We thank the State government for issuing the GO. It will now provide a relief to the builders as they would be spared from paying the amount at a go.
The decision would also drive away the fears of the builders about grounding of their projects,' he said. Speaking further Reddy said that the absence of the GO had caused problems like stalling of many real estate projects due to want of building permission.
A builder from Banjara Hills said that the GO was a boon for all the builders' community of the city. 'I was having problems in grounding of my project due to want of funds towards the payment of impact fee as the total amount was Rs 80 lakh. I have been struggling to mobilise these funds. But, now I don't have to worry about it,' he noted. The government orders will be in force for a period of three years in the corporation limits.
News Posted: 5 December, 2014
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