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Kochi Realty Market News

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  • Re : Kochi Realty Market News

    Kochi corporation to extend deadline of Rajiv Awas Yojana project for fifth time

    Read more at:
    https://realty.economictimes.indiati...-time/95734952


    As per original schedule, the work should have been completed by 2018. Now, authorities are seeking the approval of the council to extend the deadline for the fifth time.


    KOCHI: Even after allotting an exorbitant amount for constructing 199 apartment units with 300 sq ft each for rehabilitating those living in colonies at Mattancherry under Rajiv Awas Yojana (RAY) scheme, Kochi corporation is unable to complete the work on the project. Corporation authorities, who extended the deadline four times earlier, are planning to extend it once again.

    As per original schedule, the work should have been completed by 2018. Now, authorities are seeking the approval of the council to extend the deadline for the fifth time.

    Besides, the corporation authorities have put up the files regarding works, other than civil works, which totals to around Rs 6 crore. During the stint of the previous council, the corporation authorities had enhanced the estimate of the project by more than 100%.

    During 2019-20, the auditors found serious anomalies in the revision of the estimate of the ground plus 11-storeyed apartment complex. According to the audit report for 2019-20, which is out now, around 975 dwelling units for the poor could have been constructed using Rs 39 crore which is the estimate prepared by the local body for constructing just 199 units of 300 sq ft.

    In 2016, the corporation authorities prepared an estimate of Rs 14 crore for constructing the apartment complex where 199 dwelling units of 300 sq ft each are to be constructed at Mattancherry under RAY project. The corporation awarded the work to a contractor at a revised rate of Rs 18 crore in 2017.

    The contractor could complete the work on one-and-a-half floor only even after two years. Then, the corporation revised the estimate to Rs 39 crore without sufficient reasons. “Keeping the poor homeless people wait inordinately is a gross injustice,” said Antony Kureethra, opposition leader.

    At the same time, mayor M Anilkumar said the corporation has been taking all measures to complete the work.

    “When we assumed power two years ago, civil work on just one floor had been completed. Now, civil work on nine out of the total 12 floors have been completed,” he said.
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    • Re : Kochi Realty Market News

      Kerala: 'Fine on waste dumping helps collect funds for LSGs'

      TNN / Updated: Nov 26, 2022, 08:20 IST



      The report is a national study conducted with National Institute of Urban Affairs to understand the financial health of 31 Indian cities, including Kochi and Tvm

      KOCHI: Robust municipal finances are the backbone for efficient service delivery and independent functioning of the city governments, stated the 'Fiscal empowerment of city governments: Phase 2 provisional report' released on Friday.

      "Being the third tier of the government, urban governments are the place where the intentions of citizens merged with established institutions. With the right financial instruments, the city governments can lead to the right pathway. They need to be devolved with financial powers and authority to make themselves self-sustainable and independent in their functioning," the report stated.

      The report is a pan-India study by Praja Foundation and the national institute of urban affairs on the financial health of municipal corporations across the country.

      A total of 31 cities, including Kochi and Thiruvananthapuram in Kerala, were part of the survey.

      "In India, the study of municipal finance is a painstaking exercise since the budget documents for all the city governments are not available in one standardized format. It poses a challenge while preparing the comparative analysis of city budgets and determining the fiscal status of city governments. This report is a single destination to access details on the municipal finance data of city governments across India," said joint secretary of ministry of housing and urban affairs Kunal Kumar.

      Kochi and Thiruvananthapuram were the two cities in the country that imposed a high fine of Rs 50,000 on waste dumping in public places as a mechanism to generate revenue and improve solid waste management. While property tax forms the main source of tax income and revenue income for all the cities, the average percentage share of property tax revenue to total income for all the 31 cities is 13.69%.

      It was found that the revenue generated from water supply services increases the total non-tax income for the city. Mumbai (47.89%), Visakhapatnam (32.26%) and Mangaluru (30.73%) are the cities which have a high percentage share of non-tax income to total income due to such services.











      Kerala: 'Fine on waste dumping helps collect funds for LSGs' | Kochi News - Times of India (indiatimes.com)
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