India: Eight Housing Projects Get Tax Exemptions as per Green Rating Compliance

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Despite the offer of tax exemptions, only eight housing projects have been constructed as per the green rating system over the last one-and-half years in Pimpri Chinchwad Municipal Corporation (PCMC) area. These eight projects recently applied for the green rating system to get tax exemption, said an official.

The PCMC started the green rating system for new buildings from 2011. According to this system, the buildings will be given ratings on a scale of 1 to 5, depending on the number of eco-friendly measures taken. The developers get concession in premium charges paid to the civic body, while residents of green buildings are offered rebate in property tax once the green rating system has been applied.

Sanjay Kulkarni, executive engineer (environment cell) of the PCMC said the civic body offered premium concession to eco-friendly buildings depending on the green rating. “For one-star rating, 10% concession, for two-star 20%, for three- 30%, for four- 40% and for five-star 50% premium concession is offered by the civic body. In addition 10% concession is being offered to all eco-friendly houses in general taxes. The civic body also provides the green building certificate to the owner, which has to be renewed every five years.”

As per the property tax department officials, the eight housing projects are coming up at Chikhali, Moshi, Chinchwad, Pimpri, Ravet and Pimple Saudagar.

The system

The PCMC adopted the guidelines laid down by The Energy & Resources Institute (TERI), New Delhi for rating green buildings in 2011. According to the system, the basic requirements of green buildings is that the buildings should be made of natural and eco-friendly resources. There should be adequate use of natural light and ventilation is a must to reduce consumption of electricity. While constructing the building, flyash bricks should be used. No waste should be released into the environment. The green rating system will help protect the environment and natural resources, added the civic officials. The most prominent feature of the system is that it stresses on importance of recycled water. An individual needs not more than 45 litres of fresh water for bathing, cooking and drinking purposes. If recycled water is used for other purposes, usage of fresh water and expenditure on purification process can be slashed significantly.

 

Source: DNA India

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