Launches of housing projects and products helped the BMC double its advertisement revenue during last years Ganeshotsav.
According to data,BMCs collections from hoardings,banners,posters and advertisements in 2012 was Rs 1.95 lakh as compared to Rs 1.04 lakh in 2011.
Last year,we saw a stream of advertisements,largely from the housing sector. Many small and big projects were launched and Ganeshotsav is the most ideal time to advertise, said Uday Salian,spokesperson of Andhericha Raja Sarvanjanik Ganeshotsav Mandal.
According to a report by real estate consulting firm,Cushman & Wakefield,at the advent of the festive season during the third quarter of 2012,the city witnessed significant launches of around 7,250 units (much higher as compared to the first half of 2012),on account of uncertainty over Development Control (DC) Rules.
Dadar and Matunga in G-North ward topped the list of fee contributors to the BMC licence department with Rs 58,372,and R-south (Borivali-Kandivali) contributed Rs 24,836.
The number of mandals increased from 472 in 2011 to 520 in 2012.
Real estate being very local,Ganesh mandals are ideal to advertise not only local projects but even big ticket projects which see an attractive investor base, said Pankaj Kapoor from real estate consulting firm Liases Foras.
Meanwhile,civic officials expect a further increase in advertising revenue as political hoardings have now been banned by the BMC. We will allow political hoardings in Ganesh mandals,which would mean that these corporators typically pay for them, said a senior civic official.
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