Transfer of Development Rights
Without clear land titles and construction permissions some builders in the city have been luring clients to book flats early at discounted rates. It is illegal under the law. The customers are asked just 10 per cent to 20 per cent before the first brick is laid. Such developers manage to sell 200 to 300 [...] Continue Reading »
If a notice of motion likely to be taken up during Tuesday’s civic general body meeting is accepted, Redevelopment of properties in suburban Mumbai will receive a major fillip. There is a proposal for raising the cap on floor space index (FSI), which can be utilised for such projects by paying a premium amount to [...] Continue Reading »
The protests by the residents of a housing society in Chunabhatti, Sion in Mumbai have been falling on deaf ears as their builder has been garnering the rent against two mobile towers on their building without fail. The rent is being paid by the service providers for the towers to the builder for the towers [...] Continue Reading »
With the sanction of 8 percent TDRs (Transfer of Development Rights) by the state government,the real estate sector in Pune is expected to boom. This move was taken for reserving the Bio Diversity Park (BDP) areas which will free up 62 lakh sq ft of green TDRs, which in turn will reduce property prices. The [...] Continue Reading »
Today Mumbai real estate industry is facing serious problems and this has been happening because of the improper governance in the real estate sector. Rs 800 crore worth real estate deal is bouncing in the hands of top city builders encouraging illegality in it’s construction and transactions. The state government itself agrees saying that the [...] Continue Reading »
Mr Anand Gupta, General Treasurer, Business Association of India (BAI), reported saying that the norms were set to levy over the 100 per cent premium with the prevailing market rates. The BAI, Mumbai and Suburban Residents’ Welfare and Cooperative Associations reported saying that there was a complete disparity in Development Control rules of the BrihanMumbai [...] Continue Reading »
All corporators of PMC Pune supported the paid FSI concept by saying that the Transfer of Development Rights (TDR) has not yielded results but the scams associated with it have only tarnished the city’s image.The FSI is the ratio of total floor area of a building to the size of the plot which indicates the [...] Continue Reading »
According to the current law, properties can be acquired for road-widening only under TDR.Transfer of Development Rights (TDR) is a certificate from the Municipal Corporation that the owner of a property gets where his/her property (either part or whole) is reserved for the purpose of public utilities such as road, garden, school etc. TDR can [...] Continue Reading »
With BBMP not providing complete information in TDR notices they despatch, residents are hiring land surveyors to measure their property for accurate data. In April, residents of Sarjapur Road received a notice from the BBMP, informing them about acquisition of a portion of their property for road widening. The notice says the road is to [...] Continue Reading »
