The state resolve their intent to promote self redevelopment through various incentives by it GR dated 13th September 2019. Where by govt. intended to extend following benefits to more than 30 year old society opting the path of self redevelopment.
- Single Window clearance for approvals with in 6 months time frame.
- Additional FSI or Carpet Area of 10%
- Additional FSI (Free) for the projects located on less than 9.0m wide road.
- Relaxation in premium, open space defficiency and premium instalment facilities.
- Rebate in the TDR
- Relaxation under LUC for society who finish the project within stipulated time frame.
- Stamp duty of Rs 1,000/- in line with the PMAY registration guidelines
- Trio-Party agreement between, contractor, bank and lender.
- Monitoring committee of two society member and one member from financial institutions.
- Related guidelines on appointment and scrutiny of contractor and action against him.
- Relaxation on GST
So much is said and so much-more to be done.
Self redevelopment policy through government GR is published and now the corresponding department (UDD/Revenue) shall issue guidelines/circular/notice to successfully implement the same.
