MMRDA to charge levy to Jet for unpaid 826cr BKC Plot

The Mumbai Metropolitan Regional Development Authority (MMRDA) will charge a levy to Jet Airways 18% per annum on the real price of property land which has been allotted to company, ever since the airline haven’t yet made the payment and taken the possession of the plot in Bandra-kurla Complex (BKC). Jet Airways had won this peace of land in an auction with the bid of Rs.826cr.
According to the MMRDA commissioner Rahul Asthana that “the total area of land is 1.5 acres, where as Jet Airways has decided to move their head-office from Andheri to BKC for saving expense of rentals.” Jet Airways had made the half payment Rs. 10cr at the time of Auction and which has happened in 2008 and still half of the payment is unpaid of plot, he added. On the demand of Airline MMRDA has extended the time for installment till the September 2010 but still incompetent for payment.
Commissioner said that “the possession will no be handed over to them unless payment made including the penalty of 18% per annum.”
On the basis of anonymity senior officer of airline said that “we have requested to MMRDA for extension but they have refused, so we are not in condition to pay the levy if MMRDA can go for re-bidding if they want.”