India, Oct. 24 -- Real estate developers from associations including CREDAI-MCHI, NAREDCO, BDA, and PEATA met with Brihanmumbai Municipal Corporation (BMC) Chief Bhushan Gagrani on October 24 to discuss key sector challenges and proposed a rationalised premium payment plan under a 10:10:80 structure.

Among the key recommendations made during the interaction was a call to rationalise the premium payment schedule through a 10:10:80 structure, where 10% of the premium would be paid at the time of approval, another 10% at the stage of Commencement Certificate (CC), and the balance 80% at the Occupation Certificate (OC) stage, CREDAI-MCHI, an apex body of real estate developers in Mumbai said in a statement.

Currently, developers are require...