SCB-GHMC Merger: A Boon for Hyderabad's Realty Sector
The merger of Secunderabad Cantonment Board with GHMC is expected to bring in a slew of benefits for property owners, residents, and builders, including lower stamp duty rates, streamlined approvals, and improved infrastructure.
Real EstateProperty OwnersBuildersSecunderabad Cantonment BoardGhmcReal EstateJun 30, 2024
One of the most significant advantages of the merger is the reduction in stamp duty rates. Currently, the property registration stamp duty in SCB stands at 11 per cent, which is higher than GHMC's 7.5 per cent. This disparity is due to the inclusion of transfer of property tax (TPT) in the registration charges. Post-merger, SCB residents can look forward to lower stamp duty rates, making it more attractive to invest in properties in the area.
Another major benefit is the streamlined approval process for building permissions. In SCB, the floor space index (FSI) is restricted to G+2, whereas GHMC permits construction beyond G+3 in some areas. Moreover, the board includes parking, cellar, and balcony areas in FSI calculations, unlike GHMC. This means that builders and residents can now look forward to more flexible and lenient regulations.
The merger is also expected to expedite infrastructure projects, improve civic amenities, and boost road connectivity. Residents hope to see a final resolution to long-standing issues like traffic congestion and the opening of roads that have been closed. The integration with GHMC is also anticipated to improve basic civic facilities such as sanitation, water supply, and medical services, which are currently inadequate in many SCB areas.
Builders and residents are optimistic that the merger will lead to better infrastructure and development opportunities, making the area more attractive for investments. With reduced taxes, better infrastructure, and streamlined administrative processes, the merger is expected to address many of the current challenges faced by SCB residents and property owners.
Information Secunderabad Cantonment Board (SCB) is a cantonment board established in 1852, responsible for the civic administration of the Secunderabad cantonment area. The Greater Hyderabad Municipal Corporation (GHMC) is the civic body responsible for the city of Hyderabad.
GHMC is a municipal corporation that was established in 2007, responsible for the civic governance of Hyderabad. It is headed by a mayor and is responsible for providing various civic services such as sanitation, water supply, and road maintenance.
Frequently Asked Questions
What is the current stamp duty rate in SCB?
The current stamp duty rate in SCB is 11 per cent, which is higher than GHMC's 7.5 per cent.
What is the floor space index (FSI) in SCB?
The floor space index (FSI) in SCB is restricted to G+2, whereas GHMC permits construction beyond G+3 in some areas.
What are the expected benefits of the SCB-GHMC merger?
The merger is expected to bring in a plethora of benefits, including lower stamp duty rates, streamlined approvals, improved infrastructure, and better civic facilities.
How will the merger affect property owners and builders in SCB?
The merger is expected to make the area more attractive for investments, with reduced taxes, better infrastructure, and streamlined administrative processes.
What are the long-standing issues that the merger is expected to address?
The merger is expected to address long-standing issues such as traffic congestion, closed roads, and inadequate civic facilities.
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