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Maharashtra govt allows flexible payment of slum rehabilitation project premiums
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The civic body already allows developers to pay charges in instalments. The change in norm is expected to provide relief to realty developers in terms of managing their liquidity and will help in avoiding the delays in completing the project due to financial issues.
Agencies
Real estate projects involving redevelopment and rehabilitation are the mainstay of the property market in the country’s commercial capital as the land-starved city has very few vacant land parcels, and most of the development is undertaken through these projects.
Real estate developers executing slum rehabilitation projects in Mumbai, the country’s biggest property market, will now be allowed to pay premiums or levies to the Slum Rehabilitation Authority (SRA) for such projects through instalments.
Representative image
MUMBAI: Over a year after top builders working with the BMC, Mhada and other planning authorities got the benefit, the state government approved the flexible installment facility to pay premiums for builders in the Slum Rehabilitation Authority (SRA). State Urban Development (UD) Minister Eknath Shinde approved the file after the BJP threatened to protest if the file was not approved by Monday.
“The file has been approved,” said Bhushan Gagrani, Principal Secretary, UD department. Officials said that a letter will be sent to the SRA from the UD department with the clarification this week.
Last week, the BJP had hit out at the Maha Vikas Aghadi (MVA) government for not giving installment facilities to SRA developers.
Most of the municipal corporations are yet to go for the uniform mode of entry tax collection through FASTag. In the case of Delhi, the municipal corporation has issued a separate RFID tag for commercial vehicles.
According to official data, currently there are about 670 toll plazas on the entire NH network. “Transaction through FASTag is happening at all NH toll plazas. The share of toll payment transactions done through the FASTag has touched almost 85%,” said an NHAI official.
So far as the tolled roads under the state government are concerned all 19 toll plazas under the Hyderabad Growth Corridor Ltd, 18 on the roads under Maharashtra State Road Development Corporation, 17 plazas each under MP Road Development Corporation and UP Expressways Industrial Development Authority allow paying user fee through FASTag.
Similarly, 13 stretches in Gujarat, 15 under the Karnataka Road Development Corporation and 10 under the TN Road Development Company also allows toll charge payment through FASTag.