Mumbai: In a serious bid to provide the much needed relief to the ailing realty sector, the state run Maharashtra Housing and Area Development Authority (MHADA) will promote ease of doing business by processing all permission for redevelopment under 33(5) in single window manner. The MHADA will process the proposal in 45 days. Further, MHADA and the state housing department will argue the realty sector's case with the urban development department to charge nominal stamp duty of Rs 1,000 in respect of redevelopment project undertaken on MHADA land. This is necessary as the realty sector has said that in case of MHADA land, MHADA is the owner whereas the society is the lessee and the developer is only acting as a contractor.
Further, the state government has give in principle approval for MHADA to deduct the actual rehab area and charge premium only for the area available for sale. The realty sector has argued that the rehabilitation area is prescribed by the government to charge for the rehabilitation area is completely contrary to the spirit of the prescribed norms and regulations.
These slew of decisions were taken at the recent meeting between the Minister of Housing Jitendra Awhad, who was accompanied by government officers, and the representatives of the realty sector.
Housing Department officer told FPJ,'' The government is committed to help the cash strapped realty sector to revive in Mumbai and rest of Maharashtra. Housing Minister is holding series of meetings to find a way out.'' He informed that MHADA will frame a policy with regard to reduction in premium for two years so that the beneficit will be given to all projects which are started within the window period to ensure level playing field and relief to ongoing projects as per the BrihanMumbai Municipal Corporation norms in respect of projects under Development Control Regulation 33.
''Realty players argued that MHADA is insisting to either pay full premium beyond two years or pay higher premium for installments paid after two years although the government has allowed reduction in premium for two years. Once the project is given an offer letter (revised or new) and the developer pays first installment within the window period of two years then in such cases the reduced premium should apply for entire duration of the project including for installments of premium to be paid beyond two years,'' the officer said and added that MHADA will frame a suitable policy.