Covid-19 fallout: Slum Rehabilitation Authority records decline in premium earnings in Mumbai
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The Slum Rehabilitation Authority (SRA) has earned only Rs 24.93 crore through premium charges that is taken from developers for undertaking slum redevelopment projects. The revenue earnings recorded are from March till July according to the current financial year statement. While the previous year earnings through premium were of Rs 461.61 crore.

A senior SRA official said, "The earnings through premium obtained by approving slum redevelopment projects has dropped due to the outbreak of coronavirus induced lockdown. Several other relaxations also granted to developers in premium payments this altogether led to the decline in revenue earned."

For developer to obtain approvals for carrying out any redevelopment project, it has to pay different types of premium charges to the concerned authority that includes infrastructure charges, MRTP development charges, fungible premium, land premium, staircase premium. SRA makes highest collection through fungible premium.

According to the SRA last year it had earned about Rs 176 crore only from fungible premium while this year in the last four months it earned only Rs 7.30 crore.

Reportedly, the SRA had also issued a notification on August 7, 2020 amid lockdown giving nine months deferment facility in premium payments to developers on the direction of state government.

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