BMC gained right to charge levy on leased plot transfer
No Comments Sub Category:Awareness,Mumbai,Municipality Posted On: Jul 27, 2012
Taking an initiative; the Bombay Municipal Corporation (BMC) gained the right to levy a premium on transfer of its leasehold plots.The state legislative assembly approved a bill to modify the Mumbai Municipal Corporation (MMC) Act.
The step is considered important that will impact redevelopment of over 41,000 properties in Mumbai.
The bill provides levy penalty for plots over which transfer rights has been taken since June 22, 1993.
Till now the civic body has allotted 4,176 plots on lease, mostly situated in posh areas.
Till now the civic body has allotted 4,176 plots on lease, mostly situated in posh areas.
Meanwhile, few plot holders moved to the court, after BMC decided to charge transfer premiumwhich will be effective on agreements since 22, 1993.
Supporting plot holders move, the court asked civic body not to impose any such transfer in the absence of legislation.
