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Mumbai

Updated on: Friday, January 14, 2022, 07:48 PM IST

Maharashtra Govt extends payment of concessional premiums up to January 31, 2022

It will be applicable to those realty players whose file for project development is approved by the municipal corporations.
Maharashtra Govt extends payment of concessional premiums up to January 31, 2022  | Photo Credit: Pexels

Maharashtra Govt extends payment of concessional premiums up to January 31, 2022 | Photo Credit: Pexels

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The Maharashtra Government has extended payment of concessional payment of various premiums by the realty sector up to January 31, 2022. The government, which had introduced the scheme in January till December 2021, has recently extended up to January 15, 2022. It will be applicable to those realty players whose file for project development is approved by the municipal corporations.

However, the realty players, whose project proposals will be cleared after December 31, 2021, won’t be able to avail the benefit under today’s order. The BrihanMumbai Municipal Corporation has already moped up Rs 11,000 crore so far and it is expected to mobilize another Rs 4,000 crore after the files pertaining to the concessional payment of premiums are cleared.

The urban development department joint secretary NR Shende in the government resolution said,'' In view of the rising COVID 19 cases and its impact on works, the government has been of the view to extend the time period up to January 31, 2022 for the payment of concessional payment of premiums. The government in January 2021 had cleared 50 per cent reduction in all premiums levied on ongoing and new construction projects till December 31, 2021. Thereafter, it was extended up to January 15, 2022. Now the government has further extended from January 16 to January 31, 2022.''

However, he clarified that the government decision will be applicable for the realty players whose project proposals were cleared by the competent authority on December 31, 2021 or before that but they were unable to make the necessary payment. The realty players, whose project proposals will be cleared after December 31, 2021, will not be entitled for the payment of concessional payment of premiums up to January 31, 2022.

The government has issued instructions to all planning authorities, branch offices of town planning, district collectors and concerned authorities in this regard as per section 154 of The Maharashtra Regional & Town Planning Act.

Today's government move is important as the state cabinet on Wednesday could not provide its approval to extend the time period up to March 31, 2022 as the urban development minister Eknath Shinde was not present at the meeting.

As reported by the Free Press Journal, Housing Minister Jitendra Awhad has urged the Chief Minister Uddhav Thackeray and DCM Ajit Pawar to extend the 50% concession in all premiums till the end of June 2022. ‘’The 50% reduction in premiums has helped the building industry & the revenue of all municipal corporations, MHADA, SRA rose. In normal course, these bodies could not have got so much revenue,’’ he noted.

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Published on: Friday, January 14, 2022, 07:48 PM IST
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