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

SCB-GHMC Merger: A Boon for Hyderabad's Realty Sector
Real Estate:The recent announcement by the defence ministry to merge the civilian areas of Secunderabad Cantonment Board (SCB) with the Greater Hyderabad Municipal Corporation (GHMC) is a significant development for the city's real estate sector. The merger is expected to bring in a plethora of benefits for property owners, residents, and builders in the cantonment limits.

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.

Related News Articles

China's Property Sector Sees Uneven Recovery Amidst Government Support Measures
Real Estate

China's Property Sector Sees Uneven Recovery Amidst Government Support Measures

China's latest property support measures have boosted transactions in its biggest cities, but activity in smaller localities is struggling to get off the ground.

June 18, 2024
Read Article
Mumbai Police Crack Down on Real Estate Scam: 2 Arrested for Duping 40 Homebuyers
Real Estate Mumbai

Mumbai Police Crack Down on Real Estate Scam: 2 Arrested for Duping 40 Homebuyers

Nehru Nagar police arrest two individuals, including a fake real estate agent, for allegedly scamming 40 homebuyers in Mumbai.

August 16, 2024
Read Article
Mumbai's Real Estate Market Sees 8% YoY Rise in Property Registrations for August 2024
Real Estate Maharashtra

Mumbai's Real Estate Market Sees 8% YoY Rise in Property Registrations for August 2024

Mumbai's real estate market demonstrated resilience in August 2024, with property registrations marking an 8% year-on-year increase. The total number of registrations climbed to 11,735, up from 10,902 in August 2023.

September 11, 2024
Read Article
Bombay High Court Suspends ED's Attachment of V Hotels' Properties in Mumbai
Real Estate Mumbai

Bombay High Court Suspends ED's Attachment of V Hotels' Properties in Mumbai

Mumbai: The Bombay High Court has recently suspended the provisional attachment by the Enforcement Directorate (ED) on multiple properties belonging to V Hotels in the city.

November 2, 2024
Read Article
Pune Real Estate Firm Falls Victim to Whale Phishing Attack, Loses Rs 24 Lakh
real estate news

Pune Real Estate Firm Falls Victim to Whale Phishing Attack, Loses Rs 24 Lakh

A Pune-based real estate firm lost a significant amount of Rs 24 lakh in a whale phishing attack, where cyber criminals impersonated the firm’s director’s father to manipulate an accounts staffer into making fraudulent transfers.

November 27, 2024
Read Article
KL Rahul and Suniel Shetty Secure Prime Land in Thane for Rs 9.85 Crore
real estate news

KL Rahul and Suniel Shetty Secure Prime Land in Thane for Rs 9.85 Crore

KL Rahul, the Indian cricketer, and veteran actor Suniel Shetty have jointly acquired a prime land parcel in Thane, Mumbai, for Rs 9.85 crore. The strategic investment highlights the growing interest in Thane's real estate sector.

April 15, 2025
Read Article