Secunderabad cantonment board eyes two-fold jump in commercial assets
SECUNDERABAD: Revising it existing land use plan, the Secunderabad Cantonment Board (SCB) has decided to make way for more commercial properties – double the current count of 10,000 – to bring in extra moolah into its coffers.
The board has sent its proposal to the principal director of Southern Command, Pune, for approval and will table it at the next meeting, if given the green signal.
Sources within SCB said that the plan, if approved, will come as a huge relief to the board that is set to lose a large portion of its revenue from November 1, once collection of toll tax from good vehicles is banned. This move is being implemented keeping with an order from the ministry of defence.
As per the blueprint SCB has proposed eight types of zones (residential, commercial, mixed, limited mixed, economically weaker section, institutional area, green zone, army/defence and government) – commercial being highest revenue generator.
Officials who prepared it said that the number of commercial properties will likely have doubled, if the plan is sanctioned.
Currently, SCB tax wing records reveal that over 10,000 commercial properties are paying taxes to the tune of 40 to 60 crore per annum. Apart from this, the board also earns close to 60 lakh annually through trade licences.
“Though we don’t have any vacant land along the road to set up commercial units, if the new land use plan is approved we can change some existing residential buildings to commercial use through certain procedures. Already, many property owners are using their residential spaces for commercial purpose, without permission,” said a senior SCB tax wing official.
He also said that the move will give an impetus to commercial activity in the Secunderabad Cantonment Board area where commercial units such as hotels, grocery stores, apparel units, hospitals, function halls, and shopping malls are located around Karkhana, Trimulgherry, Bowenpally, Bolarum, Sikh Village and Tadbund. Apart from this, the new land use plan will also permit for a mixed use zone which includes both residential and commercial areas.