A booster dose for the ailing real estate industry...
A booster dose for the ailing real estate industry, the state government is planning to significantly slash premiums payable by builders for availing buildable area for their projects in Mumbai
The new government is likely to lower premium payable on Additional FSI by another 10-15 per cent. Similarly, premiums payable for fungible compensatory area in residential and commercial projects are also likely to be slashed.
A committee, led by HDFC chairman Deepak Parekh, in a recent report submitted to the state government, sought up to 50 per cent reduction in premiums and decrease in ready reckoner rates to bring down input costs for construction projects.
