Mumbai: The construction industry in Maharashtra has been hit by the economic slowdown with fewer developers queuing up for permission across major cities, including Mumbai and Pune. Only Solapur has recorded a growth.
Stamp duty registration and other duties show collections have dropped by 12% in the last quarter, compared to the same period last year. Between April and June, the government collected Rs 7,171 crore against Rs 8,152 crore during the same period last year.
The decline in the construction sector is the sharpest among other key sectors like automobile (-1.74%), electrical goods (-4.72%), engineering (-1.43%), metals (-2.45%) and garments and textiles (-2.97%), which, too, have reported negative growth for the quarter ending June.
The quarterly figures were put up for review before chief minister Prithviraj Chavan last week by the state industry and finance departments.
The latest figures show that the downturn is bleeding the construction industry. In Mumbai, only 429 projects are likely to come up in the current year with a total construction area of 19.32 lakh sq metres, while the corresponding figure last yearwas 444 projects covering 17.44 lakh sqm. In 2010-11, the Brihanmumbai Municipal Corporation had approved 1,065 proposals measuring 69.68 lakh sqm.
Doppler radar stalls half-built
tower in Mazgaon
An under-construction residential tower at Mazgaon (above) may be the first casualty of the Doppler weather radar at Colaba. Work on the half-built skyscraper (13 of the 26 storeys planned have been built) ground to a halt after the Indian Meteorological Department restricted its height to 75.45 metres. TOI, on August 27, had reported that builders in the island city have been hit hard by the BMC insistence on a NOC from the weather department if their towers are over 70m high and fall within a 10-km radius of the Doppler radar. P 4 Chavan may approach Centre for assistance
In Pune, another fast-growing city, the proposals this year are 4,073 as opposed to 4,623 last year. The construction area covered by projects this year is estimated at 66.13 lakh sqm against 74.02 lakh sqm last year.
In Solapur, proposals increased from 2,482 in 2011-12 to 2,942 this year, aggregating construction work of 4.68 lakh sqm being currently carried out in the city. This, officials said, was owing to speedy completion of several infrastructure and roads projects in the region. Only 66 projects were approved in Mira-Bhayander this year, against 137 last year, and 402 in Malegaon and 972 in Nanded this year, as against 462 and 1,127 the previous year respectively.
The state industry and finance departments are seeking a stimulus for affected sectors as early as possible. Chavan has not ruled out approaching the Centre for help if push comes to shove in the next quarter. "I am really concerned about the bearing of the economic crisis on the state in general, especially key industrial sectors. We won't hesitate to approach the Centre for help," he said. |
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