24 November,2017 10:00 AM IST | Mumbai | A Correspondent
The Brihanmumbai Municipal Corporation (BMC) has issued stop-work notices to developers of 18 construction projects coming up on its plots
The Brihanmumbai Municipal Corporation (BMC) has issued stop-work notices to developers of 18 construction projects coming up on its plots. Several developers have defaulted in paying premium charges of over Rs 357 crore and have also failed to complete the projects within the promised period, thus inviting trouble. "We even simplified the process with certain policy changes in 2012, and yet, there has been a delay in payments," said an official.
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It is mandatory for developers to pay the premium charges, as the development is taking place on municipal plots. All the 18 redevelopment projects are in the island city. The developers will be given time to reply to the delay, and if BMC considers their side, the deadline to complete the project will be extended. But according to procedural action, if there is no reply or if the developer's side is non-considerable, BMC has powers to cancel their contracts and appoint new ones to redevelop the societies.
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