+
Developers Seek Flexible Premium Payment from BMC
Real Estate

Developers Seek Flexible Premium Payment from BMC

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.

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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code