Panel led by chief secretary to look at ways to boost development

Chief minister (CM) Uddhav Thackeray on Monday set up a committee under the chief secretary to look into the demand for concessions to boost development and redevelopment projects, including slum rehabilitation projects, in the state. Industry bodies have sought concessions, including reducing the stamp duty fee by half.

Thackeray met a delegation of real estate bodies, including Maharashtra Chamber of Housing Industry (MCHI), Confederation of Real Estate Developers Association of India (Credai) and National Real Estate Development Council (Naredco), to discuss how to boost public projects.

A senior housing department official said, “These bodies have sought sops including slashing of the stamp duty fee by half (from 6% to 3%) and doing away with the ‘development charge’. A committee under the chief secretary and other secretaries from the urban development department, housing department, etc, will look into the demands.”

Niranjan Hiranandani, co-founder and MD of Hiranandani Group, and president of Naredco, said issues related to slum rehabilitation was discussed with the CM. “Issues like how the new revamp projects are not taken up, and why new projects are not coming up was discussed. Lots of suggestions were made, but the CM said the state needs money and there is a question on how much concession can be given, if at all,” he said.

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