The department of town and country planning (DTCP) has directed developers of 17 residential societies undergoing structural audits to deposit the cost in an escrow account. The funds will then be distributed to the four agencies conducting the audit.
During the 45-day process, the structural audit will cover more than 200 towers, covering an area of around 2.5 crore sq. ft. in 17 residential societies, according to the department. The developers will pay for the audit, which is expected to cost around Rs 4.5 crore.
In a letter to the developers, DTCP stated that the amount has been calculated at the rate of Rs 1.75 per sq. ft. based on the built-up area details of the project as provided to them by the developers’ offices. This sum must be deposited immediately by developers into the bank account set up specifically for the audit.
Payments Will Be Made In Stages Following A Thorough Inspection
Payments will be made to agencies in three stages: 25% when the work order is issued, another 25% after the visual inspection is completed, and the remaining 50% after the report is submitted.
Amit Madholia, district town planner (enforcement), stated that developers have also been directed to share the names and contact information of their representatives who will assist the agencies during the structural audit of their properties.
According to an official, a few developers have yet to submit structural drawings, which may cause a delay in the audit. Meanwhile, audit agencies have been directed not to share any information during the process in order to ensure transparency and avoid situations that cause residents to panic.