Pune: The Pune Municipal Corporation (PMC) is mulling the option of allowing builders to deposit the premium amount and other charges in instalments while granting them conditional permission for the projects. The standing committee will make a decision regarding this on Tuesday (June 23) which will provide relief to the builders and developers and give a boost to the construction and real estate sector in the city. 

The PMC earlier had made it mandatory for the developers to pay the premium amount, deposit, FSI and development charges and other department permission fees in advance before granting any approval for the project. This resulted in huge investment on part of the developers even before starting the construction. 

Also, the several clauses in the 'Maharashtra Real Estate (Regulation and Development) Act' (MahaRERA) had restricted the booking amount from customers to 10 per cent of the total amount. This had seriously impacted the fund availability with the builders and thereby restricting the number of projects they could launch in the city. 

The proposal before the standing committee states, If the premium amount for a project is more than Rs 50 lakh, then for a building with less than 70-metre height, the builder can pay 33, 33 and 34 per cent of the amount in three instalments in the first, twelfth and 24th month respectively.

For buildings with more than 70-metre height, the builder can pay the premium amount in four installments of 25 per cent each in the first, twelfth, 24th and 36th month respectively.