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SRA proposes to continue premium payment configuration

Through a Government Resolution issued in January 2021, the state offered these easy premium payment facilities in installments.

Dharavi in Mumbai, the biggest slum in the world (Representational Express File/Photo)

The Slum Rehabilitation Authority (SRA) has proposed to continue the 10:10:80 premium payment configuration ratio that was introduced during the Covid-19 pandemic and expired in September 2022.

According to DCPR 2034, the premium payment ratio is 25 per cent during IOD (Intimation of Disapproval), 15 per cent during CC Commencement Certificate and 60 per cent at the time of OC (Occupancy Certificate).

This was reduced to 10 per cent (IOD), 10 per cent (CC) and 80 per cent (OC) during the pandemic to reduce financial burden on developers. But this reduced configuration expired in September 2022.

Through a Government Resolution issued in January 2021, the state offered these easy premium payment facilities in installments.

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An official said developers have asked the SRA to continue this configuration and the authority has put this proposal before the government.

According to the SRA, it has collected a total revenue of Rs 1,511.58 crore only through premium for fungible compensatory Floor Space Index (FSI) in 2021-22.

This was 13 times more than in 2020-21 (Rs 123.07 crore). Fungible FSI is the additional space purchased from authorities by builders.

First published on: 07-10-2022 at 07:54:36 pm
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