"These developers collectively owes Rs 357 crore to the BMC accumulated since May 2012, besides, 18 per cent penalty on late payment," the BMC said in a statement.
With an objective arrest the misuse of free FSI and to mobilise much-needed revenue for infrastructure development of the city, the government had in 2012 amended Development Control Rule (DCR) and allowed builders to pay premium to the civic bodies in lieu of availing the fungible FSI.
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