Q:The directorate of town planning, Pune, has initiated the process to call suggestions and objections regarding the rules made public in November last year
Latest Answer: Because of this issue, the state government has proposed many changes such as sharing revenue of the premium charged and use of transfer development rights (TDR) for plots with road width more than 9m. Dhananjay Khot, additional director of town planning in the Kolhapur Municipal Corporation told that the civic bodies such as the KMC are totally dependent on the revenue generated through the premiums charged to builders and therefore, the clause should be withdrawn.
Q:The state government issued a notification last week exempting old city areas from area-based restrictions on the utilization of transfer development rights.
Latest Answer: Yes, in the earlier notification issued on January 28, the state government had restricted the utilisation of TDR based on the land size and the road width on any plot. However, the government issued a notification last week stating that specific area-based restriction on the maximum permissible limit prescribed by earlier regulations shall remain in force except for Gaothan areas.
Q:The market is running with a belief that FSI will go up, and that the option to buy additional TDR is beneficial for Mumbai real estate companies. Is that belief correct?
Latest Answer: Yes, earlier, TDR was available like any other commodity. It could be used anywhere in any part of Mumbai. The price was neutral. Demand and supply were the guiding factors. But today, it is very clearly differentiated based on RR rates.
Latest Answer: Good evening friends,
As per Deputy Metropolitan Commissioner, it happened because there has always been a demand for TDR but there was no supply for the last few years. At the same time, there was a slowdown in the real estate sector. Since we are now seeing some level optimism in the sector we decided to sell the TDR to generate funds for funding our projects.
Latest Answer: And the Oberoi Realty has bid for all the 3 plots. As per MMRDA, they have received 14 bids to its e-tender. The financial bids for this auction will be opened on June 25 and after the evaluation of the same winning bidders would be announced.
Latest Answer: @Sunil,
Builders are thinking that among number of other changes, the plan had increased the floor space index, which indicates permissible construction on any plot. According to experts, if height and developable limitations are re-engineered, companies will have to go back to the drawing board and reconstruct plans.
Latest Answer: Hi ravindra and Saran,
As per Deputy Metropolitan Commissioner, it happened because there has always been a demand for TDR but there was no supply for the last few years. At the same time, there was a slowdown in the real estate sector. Since we are now seeing some level optimism in the sector we decided to sell the TDR to generate funds for funding our projects.
Latest Answer: Hi Abhishek and Ashish,
You mean to say that the coming year will be a period of uncertainity and a number of project launches will be stopped. Then Developers will must have difficulty to lock project layouts as the new plan will have different rules for open space regulations, height restriction of buildings and general usage of space.