1. 18 builders get stop work notice from Brihanmumbai Municipal Corporation for defaulting premium

18 builders get stop work notice from Brihanmumbai Municipal Corporation for defaulting premium

The Brihanmumbai Municipal Corporation (BMC) has issued stop work notices to 18 developers executing as many housing projects with different names on the civic body's land in the city for failing to deposit the premium amount.

By: | Mumbai | Published: November 23, 2017 10:27 PM
Brihanmumbai Municipal Corporation, Development Control Rule, FSI, redevelopment projects, civic bodies, infrastructure development, housing projects “These developers collectively owes Rs 357 crore to the BMC accumulated since May 2012, besides, 18 per cent penalty on late payment,” the BMC said in a statement. (PTI)

The Brihanmumbai Municipal Corporation (BMC) has issued stop work notices to 18 developers executing as many housing projects with different names on the civic body’s land in the city for failing to deposit the premium amount. “These developers collectively owes Rs 357 crore to the BMC accumulated since May 2012, besides, 18 per cent penalty on late payment,” the BMC said in a statement. With an objective arrest the misuse of free FSI and to mobilise much-needed revenue for infrastructure development of the city, the government had in 2012 amended Development Control Rule (DCR) and allowed builders to pay premium to the civic bodies in lieu of availing the fungible FSI. “As the builders have failed to pay the premium for their redevelopment projects, stop work notice has been issued to 18 projects and the project owners have been asked to clarify,” said the statement.

(More details are awaited).

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