Mumbai’s leading real estate developers have urged the Brihanmumbai Municipal Corporation (BMC) to introduce a flexible payment structure for project premiums, proposing a 10:10:80 formula. The suggestion was made during a recent meeting between BMC Commissioner Bhushan Gagrani and representatives from developer bodies such as CREDAI-MCHI and NAREDCO.

Under the proposed system, developers would pay 10 per cent of the premium upfront, another 10 per cent upon project approval, and the remaining 80 per cent in instalments during construction. The builders argued that the existing lump-sum premium payment model creates significant financial pressure, particularly for redevelopment and Slum Rehabilitation Authority (SRA) projects.

Developers emphasised that a staggered payment approach would support liquidity, accelerate project execution, and help revive stalled housing schemes. The BMC is reportedly reviewing the proposal to assess its financial implications and potential alignment with ongoing urban development and housing policies.