Mumbai: Panel to help BMC generate revenue

BMC headquarters. File Pic

The BMC is working to generate revenue from land development and redevelopment. The civic body has scrapped the decision to appoint a consultant and framed an internal committee to suggest remedies to create new revenue sources.

Additional Municipal Commissioner Dr Sudhakar Shinde has confirmed the update. "We are not appointing consultants now. A team comprising our officials will frame guidelines. This is a very vast process. it will take time," Dr Shinde added. This team will suggest remedies to increase the BMC's revenue via redevelopment, he added.

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In the civic budget, it is proposed to implement a road map from the annual generation of Rs 10,000 crore in revenue from leasehold and tenanted properties.

"The BMC has decided to invite ward ward-wise or zone-wise bids for the development of the municipal tenanted properties where there is a cluster of buildings in the same ward," the official said.

"Rehabilitation and sale can be proposed on single or multiple plots within the cluster and one of the plots of the cluster may get vacated. The financial potential of the vacated plots will be explored by the BMC by considering various options, including the auctioning of plots," said an official.

Stating that the BMC has decided to explore new sources of revenue, an official said, "As of now, our revenue sources are limited. There is a policy for the redevelopment of the tenanted property. However, we are working on introducing a new policy to generate more revenue for the BMC. We have undertaken various infrastructure work in the city and we also need to spend on daily operations."

According to the records, there are around 4,000 tenanted properties of the BMC out of which around 700 have been redeveloped. The tenanted properties are largely the Bombay Improvement Trust chawls mainly located in the island city.