Installment facility shall not be granted for, Scrutiny Fee, IOD deposit, Debris Deposit, Labour Cess, Development Charges.
Installment facility may be granted to the premium charges payable to MCGM for, 25% share of additional FSI on payment of premium permissible under Reg 30 of DCPR 2034, additional FSI permissible under regulation 33 of DCPR 2034 for MCGM part, 50% of total premium payable to MCGM under 31 (3) of DCPR 2034 (Fungible), premium to exempt area covered under Staircase/Lift/ Staircase and Lift Lobby from FSI, premium towards condonation of deficiency in open space.
This shall be allowed in case of minimum Rs 50 lac amount is payable at time of granting the installment facility.
For building having height up to 70 mtrs.: Facility for period of 48 months with five installments. 1st (at zero month)- 10%, 2nd (at 12th Month)- 22.5%, 3rd (at 24th Month)- 22.5%, 4th (at 36th month)- 22.5%, 5th (at 48th month)- 22.5%
For building height equal or more than 70 mtrs: Facility for period of 60 months with four installments. 1st (at zero month)- 10%, 2nd (at 12th Month)- 18%, 3rd (at 24th Month)- 18% and 4th (at 36th Month) -18%, 5th (at 48th month)- 18%, 6th (at 60th month)- 18%
Developer/Architect needs to apply for grant of facility to DY CHE (BP), as per format in Annexure C, post concession approval obtained. They should do 1st installment payment within one month of demand note.
Regular installment shall be paid on due date with interest calculated at the rate of 8.5% p.a. on reducing outstanding balance.
Delayed payment for first six month: 10% p.a. interest for delayed period on outstanding amount including interest amount calculated at 8.5% p.a.
In case of failure in payment of installment amount within a period of three months from schedule installment date, the facility shall be treated cancelled and stop work notice will be issued and proceeding as per MMC Act or u/s 55 of MRTP act shall be initiated. (on default the premium payment will be recalculated as per the then the prevailing SDRR and maximum between the new calculated premium based upon the revised SDRR and due payment amount after adding interest shall be recovered)
Reduced rates of additional FSI/Fungible as per the govt directives dated 20.08.19 shall not be applicable to the built-up area already approved prior to 20.08.2019 by availing installment payment facility.
