GR For Premium Reduction for Real Estate Project dtd 14.01.2021

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(Maharashtra Regional Planning and Town Planning Act, 1966. As per prevailing Development Control and Promotion Rules, instructions under Section 154 to give concession in surcharge levied on additional carpet area index …

Ministry of Urban Development Department, Government of Maharashtra, Mumbai 400032.

TPS-1820 / Ano.27 / Pr.No.80 / 20 / Nov-13,

Dated: 14/01/2021

Introduction: -  In view of this, various measures are being taken by the state government to revive the real estate sector in the wake of the announced layoffs in the state and the radical slowdown in global economic and industrial progress due to all these factors.  The Deepak Parekh Committee has made some recommendations in this regard.  

 

The premium levied while approving the carpet area index is levied by the planning authorities as per the percentage fixed by the government. In such a premium, there is a certain share between the government and the planning authority.  The premium to be levied in the regional planning area is the percentage fixed by the government at the branch offices of the concerned town planning department.  Charged by the Collector.  The premium for the additional carpet area index is to be levied as per the percentage fixed by the government at the respective market rate of the respective year in the annual market price scale.  Therefore, the government is of the view that the surcharge for such additional carpet area index should be waived as per the recommendation of the Parekh Committee and the matter should be implemented immediately.  Also, as per the provisions of the prevailing Development Control and Promotion Regulations, premiums are levied for other matters by the Planning Authority as well as other authorities in addition to the Additional Carpet Area Index.  Accordingly, the Government has decided to inform all the planning authorities as well as other authorities about the decision to be taken at the level of planning authorities / other authorities regarding payment of 50% (fifty per cent) of the premium to be levied.  CAtariDedupkVUPus meman marChander Scanned by oner under section 154 of Maharashtra Regional Planning and Town Planning Act, 1966

 

 

Under Section 154 of the Maharashtra Regional Planning and Town Planning Act, 1966, instructions are being given to all Planning Authorities / All Branch Offices of Town Planning Department / All Collectors / Other Authorities as under:

 

“Instructions”

* 1  As per prevailing Development Control and Promotion Regulations, 50% (fifty per cent) rebate should be given in case of surcharge levied on additional carpet area index / feasible carpet area index in the planning authority area as well as in the regional planning area.  While implementing accordingly, the following action should be taken (A, B and C).  

*2.  Also, as per the provisions of the prevailing development control and promotion regulations, additional carpet 6.  The Planning Authority / other authorities should decide to give 50% (fifty per cent) rebate on the premium levied by the planning authorities other than the index as well as other authorities for other matters (e.g. staircases, passages, open area reduction concessions, departmental changes etc.).  The following (a, b and c) action should be taken while implementing it.  

 

*A) The following projects / project parts will be eligible for this scheme.  

*(I) Ongoing projects and new projects: 50% (fifty percent) discount will be payable on the amount of direct deposit to be paid to such projects till 31/12/2021.  

*(ii) This concession is applicable only for all premiums to be levied as per Development Control and Promotion Regulations and will not be applicable for Development Charges or other administrative matters.

 

* B) EWS / LIG / MIG / HIG area houses / flats / commercial industrial etc.  Only developers who pay the stamp duty (ie reduce the stamp duty of the customer to zero) will get the benefit of the scheme and such developers will be required to make such public disclosure and action as follows.  

*I. For projects wishing to participate in the scheme, the concerned developer will have to guarantee to the Planning Authority that the customer will pay the full stamp duty.

*II The developer will have to submit a certificate to the planning authority that the entire cost of the stamps in such project has been borne by the developer.

* III.  The developer will have to publish a list of customers who have thus paid the full cost of the stamps on their website.

* IV.  The list of projects which will participate in this scheme or the part of the project for which the concession has been taken, has to be reported to the Stamp Registration Office for information through the Municipal Commissioner / Municipal Council or Nagar Panchayat Chief Officer / Collector / Planning Authority.  It will also have to be published on the website of the concerned authority.  

*v.  Projects benefiting from these concessions will have to continue to avail the stamp duty concession till the sale of the benefited construction area.

* C) Annual Statement of Rates (ASR) which will be taken as the basis for new project or new part of the project to be charged new premium

* I applicable on 01/04/2020, or

*  ii) while paying the premium.  

The prevailing, whichever is higher, should be assessed on the basis of Annual Statement of Rates (ASR).  

For the effective implementation of this scheme, their assistance and guidance will be sought in coordination with Maharashtra as required.  

These instructions will be implemented immediately.

As per the order and name of the Governor of Maharashtra, 


Analysis of the GR:

GR For Premium Reduction for Real Estate Project dtd 14.01.2021 issued by UD Dept. of Maharashtra Government 

Salient Points 

1. 50% Reduction of Premium 

2. Apllicable to new and under construction projects before 31.12.2020

3. No Restriction for residential or commercial projects

4. Reduction for Fungible FSI and Additional FSI

5. Staircase & Lift Lobby with OSD to be decided by competent approval authority 

6. UT needs to be submitted for availing the Premium reduction benefit stating u will pay full stamp duty on behalf of purchaser on applicable ASR rates on higher end stamp duty value and will be applicable to entire sales are sold out 

7. Need to show the listing on website of company and govt  stamp web page...

Comments

  1. Dr Avinash SadadekarMay 28, 2021 at 2:18 AM

    hi,
    I have a question. I have already paid my stamp duty, and the builder has applied for the above mentioned Concession from MCGM, Mumbai. In his undertaking, he writes about some reimbursement. Can u kindly help me to understand, whether 100% of my paid stamp duty will be refunded by builder to me???
    Guidance will be highly appreciated.

    ReplyDelete

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