Builders support BMC Mumbai Chief Decision on No Premium for Redevelopment Projects
BMC’s plan to levy a 100% premium on some areas like flower bed, parking and balconies appeared to have been made under the premise that developers were indulging in commercial exploitation. Maharashtra Chamber of Housing Industry (MCHI) recommended a maximum of 25% premium on compensatory FSI and that “this area should not be inclusive of balconies which should continue to be as per earlier policy”.
Two prominent organizations representing builders on Thursday supported civic chief Subodh Kumar’s decision not to charge premium for redevelopment projects. The BMC had proposed this levy on redevelopment projects, which was opposed by politicians and developers.
The MCHI, the representative body of the real estate industry, said the question of premium did not arise as all houses to existing inhabitants are given free of cost under redevelopment scheme covering old buildings or slums. MCHI had said that applying premiums under the proposed Development Control Rules and restrictions on redevelopment projects in Mumbai would defeat the scheme and lead to social injustice.
Times of India
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