New composition policy for builders who failed to complete the allotment

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Gurmeet,

22nd August 2013

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Those builders, who failed to complete the allotment process by December 31,2012, would be allowed time up to June 30,2014, after payment of the composition fee.The composition fee for such builders would be Rs 2 lakh, Rs 1 lakh and Rs 50,000 per colony for the hyper/high, medium and low potential zone, respectively.

Vivek Kulkarni,

23rd August 2013

Comment

Under the new policy, the builder concerned would not face penal action and instead would be let off after paying a one-time composition fee for compounding violations committed in the allotment of EWS plots/flats in the licensed colonies .

Vivek Kulkarni,

23rd August 2013

Comment

Heard that who delayed the allotment process but completed the project up to December 31,2012, would have to pay a “one-time” payment of Rs 1 lakh, Rs 50,000, and Rs 25,000 per colony in the high/hyper, medium and low-potential zones, respectively.

Supratim,

23rd August 2013

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