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BMC INCREASES DEVELOPMENT CHARGES BY 100%, INCREASING PROPERTY PRICES FILLS BMC COFFERS TOO

bmc-increese-development-5With the increasing realty prices and the huge profits that the builders are getting from it, looks like even BMC wants to fill its coffers and has decided to increase development charges by 100%. With property prices shooting sky high and bringing merry days for builders, looks like even government organizations want to have a taste of it. Where on one side the state government has increased stamp duty and registration charges by 15-20%, on the other hand BMC has increased the development charges by 100%, as was informed by them in a press conference. A common man’s dream of buying a house is slowly getting further away as it’s not just the property prices that will worry them now but also the hiked stamp duty and registration charges. Although the government should also progress with the builders but many feel unfortunate that even after the lifting of the ULC act, instead of bringing a stop to the ever-increasing realty prices, the government is inadvertently encouraging it. With cameraperson Ravi Nikam, Rajeev Mishra for NMTV News.

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