The Authority has also made concessions for institutional or industrial units that are on rent. Singh said: “Units that are tenants paid Rs 100 per square metre as rent to the Authority. We don’t want buildings to go vacant. Last year, when the market showed initial signs of slowing down, we reduced rent to 20 per cent for some. That has been slashed by another ten recently.”
For members of cooperative housing societies who have purchased flats and are yet to pay the sub-lease, the penalty for the delay will be withdrawn if they pay up by March 31, 2010.
The Authority will also pay farmers, from whom it acquired land, the ex-gratia payment that is still due.
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