nashik the slowdown in the real estate sector has hit the civic body hard with its revenue through various taxes from the town planning department declining by 2028 per cent during the 201314 financial year from that of the preceding fiscal the nashik municipal corporation nmc earned rs 4656 crore through various taxes from the town planning department during last fiscal as against rs 5841 crore in the 201213 financial year the town planning department earns revenue through building permission and layouts fees betterment and development charges and fees through unauthorized constructions like closure of balcony and plinth settlement we had set the revenue collection target of rs 70 crore through various taxes of the town planning department for the 201314 fiscal but fell short because of the recession in the real estate sector we hope the situation will improve in the current fiscal year in which we are eying a rs 60crore revenue from various taxes of the town planning department an nmc official said the real estate sector across the county has been passing through a phase of recession for the past two years and the situation in the city was in no way different this has led to the decline in the revenue of town planning department an office bearer in the confederation of real estate developers association said sale of flats and other properties has been affected in the past two years the real estate sectors is still facing recession but the sign of improvement is expected from this years diwali the number of ready vacant flats which was close 10000 flats in 2012 has reduced to 3000 at present nmcs revenue through town planning department taxes year revenue 200809 rs 1611 core 200910 rs 2257 crore 201011 rs 4808 crore 201112 rs 6925 crore 201213 rs 5841 crore 201314 rs 4656 crore