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Construction : Web Exclusive | February 2013 | Source : Construction Update

BMC plans to spend Rs 275 bn in 2013-14

Brihanmumbai Municipal Corporation (BMC) plans to spend Rs 27,579 crore in 2013-14 compared to Rs 26,581 crore in 2012-13, the budget presented by the civic body shows.

The estimated net expenditure would be Rs 27,493 crore, showing a surplus of Rs 15.78 crore. It is learnt that the revenue of the corporation is set to rise following amendments to the Development Control Regulations and Maharashtra Regional Town Planning (MRTP) Act.

It may be noted that the state government made various amendments in development control regulations (DCR) and the MRTP Act. The new sources of premium against the fungible floor space index (FSI) has fetched Rs 943 crore till January 24 this year. This is expected to cross Rs 1,150 crore by the end of the current financial year.

The corporation has also generated revenue from the new modification introduced in the public parking lot scheme.

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