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BMC to open on all days to help builders pay slashed premiums, Real Estate News, ET RealEstate

BMC to open on all days to help builders pay slashed premiums, Real Estate News, ET RealEstate
MUMBAI: The BMC, which is facing a cash crunch, will keep the offices of its building proposal (BP) and development plan (DP) departments open on all days till August 19 so that builders can pay premiums at discounted rates. The deadline to pay premiums at 50% discount ends on August 19.

BMC officials said that the Maharashtra Chamber of Housing Industry (MCHI) and Confederation of Real Estate Developers’ Associations of India (CREDAI) had put in a request with the BMC to keep its offices open on all days till August 19 so that builders could pay the premiums before the deadline.

“The state government has issued directions for giving relief to the industry, thereby reducing the percentage of premiums and also waived the development cess till 19.08.2021. During the last 16 months, there were crises due to the Covid-19 pandemic. There were restrictions and hence developers could not process the files. Now since the deadline is 19.08.2021, and now relaxation is given by the state government for movement, CREDAI-MCHI has requested to keep BP and DP offices open on all days till August 19,” the BMC’s note read.

The proposal to keep all BP and DP department offices open on all days was approved by municipal commissioner Iqbal Chahal. The state government had in January issued a GR slashing construction premiums paid by builders by 50% after the cabinet approved it.


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