Fearing over Rs 2,300 cr loss, BBMP proposes tweaking 2 laws
Real Estate

Fearing over Rs 2,300 cr loss, BBMP proposes tweaking 2 laws

The BBMP has proposed amending two existing laws, particularly the sections pertaining to the approval of building plans and the issuance of commencement certificates (CCs) and occupancy certificates (OCs), which allow builders to file a lawsuit, in an effort to prevent losing more than Rs 2,362 crore as a result of legal loopholes.

The BBMP Act of 2020 and the Karnataka Municipal Corporations (KMC) Act of 1976 are the two laws that are being proposed for amendment.

Several builders and developers, according to BBMP officials, have petitioned the high court for rulings reducing the fees the agency collects.

Their main complaint was that the BBMP was obtaining fees from the developers in violation of both the KMC Act and the BBMP Act.

The builders also claimed that the town planning branch of the civic agency was illegally collecting payments under a number of headings, including plan verification, ground rent, license, CC, and OC.

The BBMP has proposed amending two existing laws, particularly the sections pertaining to the approval of building plans and the issuance of commencement certificates (CCs) and occupancy certificates (OCs), which allow builders to file a lawsuit, in an effort to prevent losing more than Rs 2,362 crore as a result of legal loopholes. The BBMP Act of 2020 and the Karnataka Municipal Corporations (KMC) Act of 1976 are the two laws that are being proposed for amendment. Several builders and developers, according to BBMP officials, have petitioned the high court for rulings reducing the fees the agency collects. Their main complaint was that the BBMP was obtaining fees from the developers in violation of both the KMC Act and the BBMP Act. The builders also claimed that the town planning branch of the civic agency was illegally collecting payments under a number of headings, including plan verification, ground rent, license, CC, and OC.

Next Story
Infrastructure Urban

Maharashtra Unveils Reforms For MSEs And Social Welfare

Maharashtra Chief Minister Devendra Fadnavis on Thursday announced a series of policy reforms aimed at empowering micro and small enterprises (MSEs), strengthening industries, and advancing social welfare initiatives across the state.At a high-level meeting in Mumbai, Fadnavis said the long-standing requirement for Non-Agriculture (NA) land use permission for MSEs has been relaxed. The change will save entrepreneurs considerable time and enable them to begin operations without procedural delays.“These reforms are designed to make life easier for citizens and ensure faster industrial growth. ..

Next Story
Building Material

India To Fast-Track BIS Nod For Taiwanese Steel Imports

The government will fast-track Bureau of Indian Standards (BIS) approvals for Taiwanese integrated steel plants, enabling micro, small, and medium enterprises (MSMEs) to import raw material under the quality control order (QCO) issued in June, according to two people aware of the matter.The steel ministry is working on securing these clearances to support MSMEs in importing intermediate steel products, adding value, and boosting exports. During consultations in late August, MSME importers flagged delays in approvals for Taiwanese plants, some pending since July. Imports from Taiwan have stalle..

Next Story
Infrastructure Urban

Ramky Wins Rs 20.85 Billion Godavari Water Project

Ramky Infrastructure has secured a Rs 20.85 billion concessionaire contract from the Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB) to supply Godavari water to Osmansagar and Himayathsagar reservoirs, supporting the rejuvenation of the Musi River. The project will be executed under a Hybrid Annuity Model through Ramky’s subsidiary, Mallannasagar Water Supply.The Godavari Drinking Water Supply Scheme – Phase II & III will be completed within two years, followed by a 10-year period of operation and maintenance managed by Ramky Infrastructure. The project aims to strength..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?