The Maharashtra state Govt is planning to slash project registration from Rs 50,000 to Rs 10,000 as per the sources. Presently,the promoters are required to pay the registration fee along with the application for registration. While the fee is calculated on the basis of the area proposed to be developed at a rate of Rs 10 per square meter, existing rules state that a minimum of Rs 50,000 must be paid regardless of the plot size, while the maximum registration fee is Rs 10 lakh.
The dilution will benefit construction projects being planned on small and medium-sized plots, said officials. “Developments of plots less than 5,000 sqm will benefit,” an official said.