Navi Mumbai: CIDCO extends completion of ongoing projects for 9 months; developers welcome the decision

Amit SrivastavaUpdated: Wednesday, October 14, 2020, 11:00 PM IST
article-image

A major respite for developers in Navi Mumbai as the City and Industrial Development Corporation Limited (CIDCO) gives 9 months extension to complete the ongoing project which was delayed due to a sudden lockdown in March across the country.

Developers' body expressed happiness over the decision and termed it is a huge relief for them as they are already going through a difficult phase.
Thousands of ongoing projects stopped after a nationwide lockdown was imposed on March 24 due to the outbreak of the pandemic.

The construction work of all ongoing projects also halted. Initially, developers provided food and shelter to construction works in an initial couple of months workers. However, the lockdown was lingered due to the spread of the virus more than it was perceived and workers returned to their hometown due to uncertainty on the resumption of work.


The board meeting of CIDCO held on September 29 decided to provide a nine months extension for the completion of ongoing works. The period of additional none nine months will begin from December 21. CIDCO issued a press note on Wednesday about the decision.


The CIDCO took the decision following developers’ body from Navi Mumbai made an online presentation to newly appointed managing director Sanjay Mukherjee last month.


As per the Navi Mumbai Disposal of Lands (Amendment) Regulations, 2008, developers have to pay a premium if the projects get delayed or they seek an extension to complete an ongoing project.


However, this year, due to the pandemic, all the ongoing projects got delayed. According to developers’ bodies, they faced a number of problems from labour to construction material due to nationwide lockdown.


Prakash Baviskar, president of MCHI CREDAI Navi Mumbai says that the decision is a big relief for developers. “Different bodies representing developers in the city came together and put their demands before CIDCO administration. This is a big relief and wins for the developers,” said Baviskar. He added that we have more demands which we expect the planning agency will address.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Rajasthan: 3 dead, several injured in stampede at temple in Sikar

Rajasthan: 3 dead, several injured in stampede at temple in Sikar

Mumbai: MMRCL plans bio-methanation plant at Kalbadevi

Mumbai: MMRCL plans bio-methanation plant at Kalbadevi

Thane: Underground Bhiwandi Metro plan awaits nod from state

Thane: Underground Bhiwandi Metro plan awaits nod from state

JEE Main session 2 out at jeemain.nta.nic.in; Here's how to check

JEE Main session 2 out at jeemain.nta.nic.in; Here's how to check

Nikhat Zareen, Sarath Kamal headline India's day 10 performance at Commonwealth Games 2022

Nikhat Zareen, Sarath Kamal headline India's day 10 performance at Commonwealth Games 2022