Economy

More built-up area in Bandra-Kurla

Our Bureau Mumbai | Updated on October 23, 2012 Published on October 22, 2012

The Mumbai Metropolitan Region Development Authority has decided to offer an additional built-up area of 5.45 hectares (about 54,000 sq. m) in the E block of the Bandra-Kurla Complex in suburban Mumbai.

A press release from the Authority said that as there are no vacant plots available in E Block, the additional built-up area is offered to plot holders at a premium of 200 per cent of the ready-reckoner rate.

The decision of offering the additional built-up area was taken by Chief Minister Prithviraj Chavan at the Authority’s meeting on Monday.

The Authority has also relaxed the rules to develop a plot within a period of four to six years, with plot holders not having to pay any penalty. The new policy will be applicable to holders who have held plots for less than four years, the Authority has said.

The Authority has further decided to waive 5 per cent of premium for additional basement parking in the Complex. This is to cater to the parking needs of the Complex, the release said.

rahul.wadke@thehindu.co.in

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Published on October 22, 2012
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