Mumbai: BMC General Agency last week cleared the proposal to build 4,000 units for the Project affected people (PAPS) in Chandivli using a controversial ‘non-cash’ scheme.
Each unit will cost BMC around Rs 59 Lakh.
BMC in 2021 floats plans to provide credit notes instead of money to contractors to build 12,000 housing units for PAPs for almost Rs 9,000 Crore.
But after the scheme changed controversial, now, it will build only 4,000 units in Chandivli through ‘means without cash’ for almost Rs 2,500 crores.
The proposal to build 4,000 units of PAPs through the method of credit and transfer of development rights (TDR) are placed before the General Agency for approval.
BJP opposed the plan, it was cleaned by the ruler of Sena Sena.
Developers can use credit notes to pay city tax and premium for BMC, or even sell credit notes to other developers.
“We have received the application to build a PAP unit …
We conducted a detailed level analysis by verifying the value of the actual agreement from transactions in the zone from the Inspector General of Registration and Stamps and found that the tariff was feasible for only one zone in Chandivli and 108 units in Deferred.
So We will only advance with it.
The lower level is a quote for Mankhurd but we have not processed the proposal, “said a citizenship official.
Officials say the value of credit notes is Rs 1,584 Crore, from the land of TDR RS 295 Crore and Construction TDR RS 619 Crore.
Each PAP unit measures around 27.9 SQMT will cost BMC just below the 60 lakh rs.
Compared to the market level, the total BMC savings will be around RS 178 Crore.
Officials said based on ongoing infrastructure projects, BMC needed 36,000 PAP units.
Of the total cost, BMC will publish credit records worth Rs 39 lakh per unit and the rest will become TDR.
BJP alleged that BMC supported the builder who quoted Rs 39 lakh in other temporary credit records which quoted Rs 35 Lakh ignored.
“BMC must hold the project and not issue an intention letter to the builder.
This is only a backdoor entry to the BMC cash to empty it.
By choosing a higher price, BMC will lose Rs 1,584 Crore,” said BJP Corporator Prabhakar Shinde.