Go green to get more tax exemption !!

Green building is the idea of designing a home so that it is environmentally friendly. It is essential because we are running out of resources to continue living as we have in the past. We want there to be enough resources for everyone now and in the future.
A green building is one which uses less water, optimises energy efficiency, conserves natural resources, generates less waste and provides healthier spaces for occupants, as compared to a conventional building.
Bungalows and small housing projects which are going green will now have an advantage. Pimpri Chinchwad Municipal Corporation (PCMC) has proposed to give more tax exemption for the small housing projects built up to 2,500 sq feet which follow the green building guidelines.
So far, only big housing projects were getting the advantage. But now those building individual houses/bungalows will also be covered under the scheme.The civic administration has tabled a proposal in this regard before the general body meeting for approval.
PCMC launched its ‘Green Building’ initiative in the year 2011 considering that buildings have a major impact on environment in terms of depletion of natural resources due to building materials, enormous energy consumption, wastage of water during and after construction, pollution etc.
Initially, the tax rebates and premium discounts were offered to big housing projects. But now small housing projects and individual houses built up to 2,500 sq ft area will get 10 to 50% tax and premium discount.
PCMC was the first municipal corporation to make a conscious effort its responsibility in saving natural resources and the impact on society by incentivising Green Rating for Integrated Habitat Assessment Rating System (GRIHA), in its jurisdiction. This rating system not only takes care of energy conservation but also looks into water and waste management, minimum destruction of natural resources and various other aspects in an integrated way.
There will be less energy consumption due to green building construction. The developer gets a discount in premium amount of building permission charges as per the rating awarded by GRIHA from 10 % to 50% and the flat owners get 5% to 15% discount in property tax after the possession from the
developer.

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