New parking lot rule to help Brihanmumbai Municipal Corporation earn crores
MUMBAI: An amended Brihanmumbai Municipal Corporation’s (BMC) parking lots policy, submitted for approval to the state government, could earn it several hundred crores a year from builders.
TOI has learnt that developers , who build parking lots free in return for incentive construction rights, will now have to share 40% of their profits with the BMC. “Each new parking lot could fetch us Rs 50 crore to Rs 60 crore,” said a senior civic official.
Municipal commissioner Subodh Kumar overhauled the original policy a few weeks ago because it was mired in allegations of nepotism and corruption.