In a significant move aimed at easing the burdens faced by Mumbai’s real estate sector, Deputy Chief Minister Eknath Shinde announced a revised Occupancy Certificate (OC) amnesty scheme during the Maharashtra Legislative Assembly’s winter session. The initiative targets approximately 20,000 buildings in Mumbai that have been operating without the mandatory OC due to minor deviations from approved plans, benefiting over 10 lakh residents who have long grappled with legal and financial hurdles.
Shinde, who also oversees the urban development and housing portfolios, emphasized that the scheme will provide substantial relief to more than 2.5 lakh families. Residents of these buildings have been paying double property tax, water bills, and sewerage charges, while facing challenges in securing home loans, reselling properties, and undertaking redevelopment projects. “This revised scheme is a game-changer for Mumbai’s housing landscape, ensuring compliance without punitive measures and fostering a more vibrant real estate market,” Shinde stated.
Key highlights of the amnesty scheme include:
- A 50% concession on premiums for additional or fungible built-up areas, calculated based on prevailing ready reckoner rates.
- No penalties for proposals submitted within the first six months; a 50% penalty applies for submissions between six months and one year.
- A dedicated mechanism allowing individual flat owners to obtain OCs independently, even if the entire building isn’t regularized.
- Extension of benefits to hospitals, schools, and other unauthorized structures, providing relief to essential sectors like health and education.
The Brihanmumbai Municipal Corporation (BMC) has been directed to implement a streamlined process for applications. Shinde noted that similar policies will be rolled out in other municipal areas across Maharashtra, with the Urban Development Department tasked to prepare a detailed report. This comes as part of the Mahayuti government’s broader efforts over the past three-and-a-half years to transform Mumbai’s urban infrastructure, prioritizing resident safety and encouraging the return of original families who had relocated due to these issues.
Real estate experts hail the announcement as a boost for Mumbai’s property market, potentially unlocking stalled transactions and redevelopment opportunities. With the scheme set to launch soon, residents are urged to prepare their proposals to capitalize on the initial penalty-free window.
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