Change in TDR policy

Q: Will this change in TDR policy going to improve redevelopment in suburbs?

Kishore Pathak, Mumbai

11th December 2013

Real estate News in Mumbai

tdr policy

redevelopment of properties

properties in mumbai suburbs

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The government also introduced the slum TDR in 1997. Developers, who undertake redevelopment of slums for free, obtain this TDR. The TDR can be used in suburbs which are situated north to the slum. This doubles the built-up area available to the developer above the usual FSI permitted on the plot.

Shrikant Kejriwal, Mumbai

12th December 2013

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The proposal has been sent for approval to the Maharashtra Chief Minister and it is expected to get an approval soon.

Ravi Waghmare, Mumbai

11th December 2013

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Is TDR important for developers who undertake redevelopment of suburban properties?

Kishore Pathak, Mumbai

12th December 2013

TDR is important for developers who undertake redevelopment of suburban properties. The Maharashtra government introduced TDR in 1991 for decongesting the island city of Mumbai. According to the policy, people whose properties were marked for creating public amenities such as road widening or play grounds could surrender it and get an equal amount of space in the suburbs.

Praveen Modi, Mumbai

12th December 2013

Until now, TDR could be utilized for redeveloping a plot situated to the north of the property from where it is generated. The state Urban Development (UD) department has now planned to remove this provision. Instead, it has put forth a plan to allow loading of TDR anywhere in the suburbs. Moreover, to ensure that developers do not make unreasonable gains, it has planned for indexing of the TDR.

Shrikant Kejriwal, Mumbai

11th December 2013

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Under the new policy, the ready reckoner values (market rates) for areas where the TDR is generated and loaded will be taken into consideration. For example, a TDR of 4,000 sq.mt is created from a plot on SV Road in Bandra, where the prevailing market rate is Rs. 1.20 lakh per sq.mt. Assuming that this TDR is to be utilized on a plot on SV Road in Malad, where the market rate is around Rs. 66,000 per sq.m, the TDR will be doubled (to 8,000 sq.mt). Similarly, if the same TDR was generated from the plot in Malad and was to be utilized in Bandra, the TDR will be halved.

Praveen Modi, Mumbai

11th December 2013

The move from the Maharashtra state government to change the transfer of development (TDR) policy will have a significant effect on redevelopment of properties in Mumbai suburbs. The state government has decided to unlock more areas where TDR can be utilized.

Ravi Waghmare, Mumbai

11th December 2013

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