Know about the latest amazing plan of GCC?
Posted on: 04/Jul/2022 9:43:31 AM
It is well known that GCC or Greater Chennai Corporation is cash starved and is trying many ways to generate revenue. Now, GCC has devised a superb plan by which it would be able to generate around revenue of Rs 2800 crores additionally in the next 3 years. By this, GCC would become eligible to get funding from the World Bank
It is worth mentioning here that the World Bank in combination with AIIB or Asian Infrastructure Investment Bank has agreed to allocate funds for an amount of around Rs 50000 crores for the purpose of implementing several civic projects that would be implemented by GCC, Metro water, CMDA and others. This would be as per Chennai City partnership programme.
The GCC must start generating revenues from its source and then only the World Bank would be releasing the allocated funds to GCC. Point is that GCC appointed a private consultant and he submitted a detailed plan to the Corporation commissioner.
On 28th June 2022, the plan submitted by the consultant was approved by the Corporation council and it adopted a resolution for approving the report. It is now brought out that the report would be sent to the state government to get the approval. According to a source from GCC it was clear that GCC would be able to generate close to Rs 2800 crores if the recommendations are followed.
The GCC currently has been generating revenue less than Rs 1500 crores only annually and majority of its revenue comes from the property tax collection. Under assessed buildings would be identified for collecting property tax and reassessing it by utilising GIS technology. This was mentioned by the report as one of the action plans of GCC. It was also revealed by the report that while collating data from Tangedco many commercial buildings have been assessed as residential buildings in Chennai.
It is now said that property tax must be increased by reassessing those buildings as commercial buildings. In the months of May and July, special drives would be conducted to increase the property tax collection. For this, the process of issuing trade licences must be made easier.
