|  |  | 

India Top Headlines

Rift in Maha’s alliance for sops to builders | India News

img-responsive

MUMBAI: It seems that some kind of rift has been broken in Maha Vikas Aghadi (MVA) by giving a 50% reduction in premiums for developers in urban areas, reports Chaitanya Marpakwar.
The proposal to reduce the premiums charged by local municipal corporations and other state agencies was discussed in the state cabinet on Wednesday, but was reported to have been postponed after Congress expressed reservations about granting subsidies to builders without guaranteeing that buyers benefit.
While the proposal was first discussed, it has been on the cards for almost two months. “We have no problem giving builders discounts … but it should be a win-win for both builders and home buyers,” said a congressional minister. Sources said the plan may bog down as Congress has demanded changes to the scheme. A PNC cabinet minister said Congress was upset that it was not consulted before finalizing the plan.
“We have already made it clear that builders who take advantage of this scheme must pay stamp tax on apartments and not collect stamp tax on home buyers. Then buyers will also get some benefit from the discount on premiums, ”said the minister.

Times of India

rift-in-mahas-alliance-for-sops-to-builders-india-news

ABOUT THE AUTHOR