November 27, 2017

 

Mumbai :

The BMC's estate department has issued stop-work notices to 18 developers who failed to complete redevelopment projects on municipal land within deadline and delayed payment of premium amount.

The developers collectively owe Rs 357.84 crore to the BMC as premium amount, in addition to 18% interest per annum. The 18 projects are in E ward at Mazgaon and Byculla, F-South ward at Parel and Sewri, G-South ward at Lower Parel and F-North ward in Dadar and Naigaon.

In 2012, BMC changed the rules under which developers were bound to pay 20% of premium amount during the agreement of project, 60% at the time of completion and then 20% while taking the occupation certificate.

A civic official said the BMC has also sought an explanation from the developers over the delay in completion of the project and non-payment of the work. "If we are not satisfied with the reply, we could invite tenders again to complete the work," the official added.

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