India, Feb. 26 -- Chief minister Devendra Fadnavis on Tuesday declared waiving off of the interest charged for paying premium in three years for self-redevelopment projects in Mumbai and other parts of the state. The announcement was made while distributing keys to the owners of a self-redevelopment housing project at Charkop. Fadnavis said that the interest for paying premium in three years for self-redevelopment project will be waived off till March 2026.

The decision is expected to give boost to those planning for self-redevelopment of their housing societies in Mumbai and other areas of the state. The state government charges five percent of the ready reckoner value as premium from housing societies opting for self-redevelopment on g...