The state government extended the deadline for the 50% concession in construction premiums that are to be paid by builders to the Municipal Corproartion.

The extension by a fortnight means the developers will be able to make the payment till January 31, 2022.

Earlier the discount was till December 31, 2021, and the it was first extended up to January 15,2022.

There was a demand from the real estate industry seeking an extension, many were seeking the extension because of the current wave of Corona pandemic.

With sone restrictions in place even the liasoning architects who looks after most of these details were trying their best for the extension.

Finally the state government on Friday, via the urban development department issued a notification.

The notification extended the deadline till January 31, 2022.

What is the scheme, under this scheme the extension will be applicable to only those building plans which had received the approval till December 31.

This made Makarsankranti a sweeter festival for the realty industry in Mumbai.

Now builders will have time to make the payments for the building premiums till January 31.

Also Read: Only 1 proposal offering land for pandemic hospital, BMC extends date

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