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Home > Forum > Hyderabad > Real estate News > HMDA offers installment for big builders

HMDA offers installment for big builders

Q: I heard they the HMDA has come up with a installment scheme for big builders. What is this about? How does it work?

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Replies (4)
1
Municipal Administration and Urban Development Department (MA&UD) was the one that came up with this idea as they allowed HMDA to do this back in 2009 by issuing a GO (MS No 583). Back then, the developmental charges could have been paid by three equal installments through a post dated cheques.
Ashok Kolluru


2
Actually this is not something the HMDA came up with. There is a provision in the HMDA Act section 46(4) and 46 (5) where the authority can collect charges in installments by levying interest. They just decided to use it now so that the body can make more money.
Syed Ali Khan


3
They came up with this move installment move because several top builders claimed that developmental charges are getting harder to pay as the real estate industry is going through a recession and the business activity has seen a major slump.
Nakul Rao


4
Yes. The HMDA has decided to allow different charges levied on the builders to be paid on installments. These charges includes development charges and other processing fees and can reach very high amount which is why this decision was made.
Kamat Reddy


Hello. Can you tell me how the builders will pay?
Raghav Karra,  Hyderabad
24th February 2015


5

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