{"id":7928,"date":"2025-10-07T07:30:11","date_gmt":"2025-10-07T07:30:11","guid":{"rendered":"https:\/\/housiey.com\/blogs\/?p=7928"},"modified":"2025-10-08T12:55:43","modified_gmt":"2025-10-08T12:55:43","slug":"mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai","status":"publish","type":"post","link":"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai","title":{"rendered":"MHADA Revises Premium Charges &#038; Payment Terms to Boost Redevelopment in Mumbai"},"content":{"rendered":"<p><b>Mumbai Redevelopment Update<\/b><span style=\"font-weight: 400;\"> \u2013 In a major policy shift aimed at making redevelopment of old housing societies more financially feasible, the Maharashtra Housing and Area Development Authority (MHADA) has introduced revisions to its 2007 redevelopment framework. The changes bring in a more balanced premium structure for commercial spaces and a phased installment system for premium payments, easing the burden on developers and housing societies.<\/span><\/p>\n<blockquote><p><strong>Also Read: <a href=\"https:\/\/housiey.com\/blogs\/blogs\/apply-mhada-lottery-2025-online-registration-application-lottery-dates\"><em>Apply Mhada Lottery 2025: Online Registration | Application | Lottery Dates<\/em><\/a><\/strong><\/p><\/blockquote>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai\/#What_Key_Changes_Has_MHADA_Introduced\" >What Key Changes Has MHADA Introduced?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai\/#Fairer_Premium_Calculation_for_Commercial_Spaces\" >Fairer Premium Calculation for Commercial Spaces<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai\/#Staggered_Premium_Payment_Structure\" >Staggered Premium Payment Structure<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai\/#How_Will_the_Installment_System_Work\" >How Will the Installment System Work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai\/#Why_Is_Redevelopment_So_Important_in_Mumbai\" >Why Is Redevelopment So Important in Mumbai?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai\/#What_Are_Premiums_and_Built-Up_Area_in_Redevelopment\" >What Are Premiums and Built-Up Area in Redevelopment?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai\/#Why_Do_These_Changes_Matter_for_Developers_and_Homeowners\" >Why Do These Changes Matter for Developers and Homeowners?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai\/#Final_Word\" >Final Word<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Key_Changes_Has_MHADA_Introduced\"><\/span><strong>What Key Changes Has MHADA Introduced?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>MHADA has made two critical revisions under **Regulation 33(5) of the Development Control and Promotion Regulations (DCPR) 2034):<\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Fairer_Premium_Calculation_for_Commercial_Spaces\"><\/span><strong>Fairer Premium Calculation for Commercial Spaces<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Earlier, developers had to pay 1.5 times the residential rate for commercial built-up area\u2014a system that many argued made redevelopment projects unviable.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Under the revised policy, commercial premiums will now be calculated based on a formula that factors in land rates, market values, and usage type, ensuring a more equitable approach.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\">This change was driven by consistent representations from CREDAI\u2013MCHI, the apex real estate developers\u2019 body, calling for parity between residential and commercial charges.<\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"Staggered_Premium_Payment_Structure\"><\/span><strong>Staggered Premium Payment Structure<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Developers and societies can now pay premiums for additional built-up area in phased installments with interest, aligning with the Municipal Corporation of Greater Mumbai (MCGM)\u2019s existing system.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\">This allows stakeholders to manage cash flows better, accelerating project execution.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"How_Will_the_Installment_System_Work\"><\/span><strong>How Will the Installment System Work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">MHADA has provided clarity on the payment schedule, depending on the plot size:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>For plots below 4,000 sq. m:<\/strong>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">10% of the premium is payable within one month of the <\/span>Letter of Intent (LoI)<span style=\"font-weight: 400;\"> issuance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The remaining premium can be cleared in <\/span>four equal installments of 22.5% each<span style=\"font-weight: 400;\"> at the end of 12, 24, 36, and 48 months (with interest).<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>For plots 4,000 sq. m and above:<\/strong>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">10% of the premium is payable within one month of the LoI issuance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The balance premium can be paid in <\/span>five equal installments of 18% each<span style=\"font-weight: 400;\"> at the end of 12, 24, 36, 48, and 60 months (with interest).<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This structured flexibility is expected to make redevelopment projects far more manageable and attractive for developers.<\/span><\/p>\n<blockquote><p><strong>Also Read: <a href=\"https:\/\/housiey.com\/blogs\/blogs\/mhada-lottery-2025-over-5000-affordable-homes-to-light-up-mumbai-this-diwali\"><em>MHADA Lottery 2025: Over 5,000 Affordable Homes to Light Up Mumbai This Diwali<\/em><\/a><\/strong><\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Why_Is_Redevelopment_So_Important_in_Mumbai\"><\/span><strong>Why Is Redevelopment So Important in Mumbai?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Mumbai, with its aging housing stock\u2014many buildings ranging between <\/span><b>two to seven storeys<\/b><span style=\"font-weight: 400;\">\u2014has a massive demand for redevelopment. The process involves:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Demolishing old structures<span style=\"font-weight: 400;\"> and replacing them with modern, larger towers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Existing residents receiving upgraded apartments<span style=\"font-weight: 400;\"> at no cost.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Builders earning profits<span style=\"font-weight: 400;\"> by selling surplus flats in the open market.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Government generating revenue<span style=\"font-weight: 400;\"> through premiums and the sale of Floor Space Index (FSI).<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Premiums_and_Built-Up_Area_in_Redevelopment\"><\/span><strong>What Are Premiums and Built-Up Area in Redevelopment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Premiums:<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span>These are charges levied by authorities at various project stages\u2014initiation, development, and completion. They include fungible FSI premiums, open space deficiency charges, lobby and staircase premiums, and more. In Mumbai, developers often pay 20+ types of premiums, which together make up 20\u201330% of total project cost.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Built-Up Area:<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span>This refers to the total usable area of a property, including internal and external wall thickness, balconies, and covered areas like terraces. It is always larger than the carpet area, which only measures the usable floor space inside a home.<\/li>\n<\/ul>\n<blockquote><p><strong>Also Read: <a href=\"https:\/\/housiey.com\/blogs\/blogs\/mhada-konkan-lottery-2025-apply-online-registration-fees\"><em>MHADA Konkan Lottery 2025: Apply Online | Registration | Fees<\/em><\/a><\/strong><\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_These_Changes_Matter_for_Developers_and_Homeowners\"><\/span><strong>Why Do These Changes Matter for Developers and Homeowners?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>For Developers:<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">The reduced commercial premiums and installment-based payments make projects financially more viable, freeing up liquidity for faster execution.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>For Housing Societies:<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Faster approvals and smoother project completion mean quicker access to modern, safe, and larger homes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>For Mumbai\u2019s Real Estate Market:<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">With redevelopment becoming more attractive, the city could witness a significant boost in supply of upgraded housing stock, benefiting both homebuyers and existing residents.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Final_Word\"><\/span><strong>Final Word<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>MHADA\u2019s policy shift is a big win for redevelopment in Mumbai. By easing commercial premium charges and offering phased payment flexibility, the authority is addressing long-standing demands from developers while simultaneously accelerating urban renewal for thousands of housing societies across the city.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai Redevelopment Update \u2013 In a major policy shift aimed at making redevelopment of old housing societies more financially&hellip;<\/p>\n","protected":false},"author":5,"featured_media":7930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[70],"tags":[3440,3443,3441,3439,3442],"class_list":["post-7928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-mhada-premium-charges","tag-mhada-redevelopment-mumbai","tag-mhada-redevelopment-policy","tag-mhada-redevelopment-policy-mumbai","tag-mumbai-redevelopment-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MHADA Revises Premium Charges &amp; Payment Terms to Boost Redevelopment in Mumbai<\/title>\n<meta name=\"description\" content=\"MHADA eases redevelopment in Mumbai with fairer commercial premiums &amp; phased payments, giving relief to developers &amp; boosting housing renewal.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MHADA Revises Premium Charges &amp; Payment Terms to Boost Redevelopment in Mumbai\" \/>\n<meta property=\"og:description\" content=\"MHADA eases redevelopment in Mumbai with fairer commercial premiums &amp; phased payments, giving relief to developers &amp; boosting housing renewal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/housiey.com\/blogs\/mhada-revises-premium-charges-payment-terms-to-boost-redevelopment-in-mumbai\" \/>\n<meta property=\"og:site_name\" content=\"Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/share\/16e5bbCuix\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-07T07:30:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-08T12:55:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/housiey.com\/blogs\/wp-content\/uploads\/2025\/10\/MHADA-redevelopment-policy-Mumbai.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"512\" \/>\n\t<meta property=\"og:image:height\" content=\"288\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"L. 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