Telangana Chief Minister’s plan to construct sky-scrappers around Hussainsagar may prove to be a boon to all the big builders in Hyderabad who wants to build skyscrappers in the city. KCR’s skyscrappers have hit a roadblock due to the huge Impact Fee which is four times the land cost.
The Impact Fee is being collected from promoters of buildings that are taller than five floors since 2007, to provide infrastructure facilities for the city. Since the Impact Fee is also impacting KCR’s pet project, the CM is mulling on cutting it down.
Currently the builders are supposed to pay Rs 200 per sq. ft in case of commercial complex and Rs 300 per sq. ft for residential complexes towards impact fee. KCR’s dream project of over 100-storeyed buildings in the city will attract an impact fee which would amount to hundreds of crores. This fee would be used to infrastructural development in the city and now had to be sacrificed.
