Mumbai: The Brihanmumbai Municipal Corporation (BMC) has written to the State government to bring amendment in the Development Control Regulation (DCR) Act 14 (a), (b) and 15 related to various types of premium payments made by the developers.
The move has come after several developers approached the BMC, demanding a 50 per cent reduction in development charges which should be considered for Mumbai in order to revive the housing construction.
Moreover, the reduction should be implemented for a period of two years, for both commercial and residential. Since the State government has the powers to bring any type of amendment in the DCR policy, the corporation has written to them for their directions on the related matter.
A builder as per the existing DCR rules have to pay certain amount of premium charges to the BMC towards extra floor space index (FSI), to grant free FSI for lift or staircase constructions.
If the demands are met the construction cost will eventually reduce which may also help in bringing down the cost of houses, believe developers.
