Installment offer for big builders in Hyderabad

Q: I have heard that the HMDA has started some installment scheme for big builders in the city? Please give me information.

Dhananjay, Hyderabad

18th March 2015

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Replies (8)

This move will help the builders and developers to come forward and clear the dues for the existing projects and payments for new permissions

Suresh Kota, Hyderabad

28th March 2015

Comment

This was because at that time, the development charges on basic land value that exceeded Rs 25 lakh and up to Rs one crore could be paid in three equal installments through post-dated cheques.

Aamir Mirza, Hyderabad

26th March 2015

Comment

Actually, the Municipal Administration and Urban Development (MA&UD) department in 2009 issued a GO (MS No 583) permitting HMDA to collect development charges in phases.

Govind Naidu, Hyderabad

25th March 2015

Comment

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. The HMDA metropolitan commissioner has taken a decision to allow the payment of charges in installments

Kamala Reddy, Hyderabad

23rd March 2015

Comment

Many of the developers and builders in the city are now facing a loss and that is why they are not able to pay the required charges on time, the real estate in the city was badly damaged in the past few years.

Ramakrishna, Hyderabad

23rd March 2015

Comment

Yes, many developers are now are requesting for deferred payments due to recession and slump in the real estate activity. This has been an excuse that they have been citing for the non payment of the charges.

Tarakaram, Hyderabad

20th March 2015

Comment

This is a recent development. The authorities have taken the decision as many owners and developers of multi-storied buildings are not paying development charges to the HMDA

Kodanda Reddy, Hyderabad

19th March 2015

Comment

Yes, recently the Hyderabad Metropolitan Development Authority (HMDA) has decided to allow developers and builders of various projects to pay development charges and other processing fee in installments.

Subash, Hyderabad

18th March 2015

Comment