Redevelopment of municipal markets to be delayed further

The plan for redevelopment of over 30 municipal markets saw yet another setback with the civic body's improvement committee on Friday sending the proposal back to the administration for modifications. Corporators are demanding that the policy be made more builder-friendly and feasible.

Corporators across party lines directed the Brihanmumbai Municipal Corporation (BMC) to expedite the process of modifying the policy so that it can be passed at the earliest.

"While calculating the premium that the builder will pay to the BMC, the policy should take into account the ready reckoner rates decided in 2010 as these are lower than current rates. Otherwise, builders will not be interested in redeveloping the markets," said Ram Barot, committee chairman and BJP corporator. The modified policy should be presented within the next 15 days, he said.

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