TDR
Godrej Properties buys TDR certificates for Gurugram project
Godrej Properties has acquired Transfer of Development Rights (TDR) certificates worth Rs 50 crore for its Sector 43 project in Gurgaon, a novel practice in the NCR region but common in Mumbai. These certificates allow for an additional 300,000 sq ft of construction, potentially generating Rs 900 crore in revenue. TDRs, obtained from Haryana government for land acquisition, were sold with a floor area ratio (FAR) of 2. This strategic move is expected to catalyze similar transactions in Gurgaon, following the company's significant sales growth in FY24 and upcoming projects in prime sectors.
Dharavi project protest: Not anti-development but my govt was not pro-builder, says Uddhav
Incidentally, Mumbai BJP chief Ashish Shelar, on Friday, said the tender as well as TDR details of the project were finalised by the Thackeray government, which was in power between November 2019 and June 2022. Shelar had also asked why the MVA government did not stipulate that residents should get 500 square feet homes post redevelopment.
Eknath Shinde govt favouring Adani in Dharavi project, says Varsha Gaikwad; cites doubling of saleable area
Speaking in the Assembly, Gaikwad, the MLA from Dharavi, said the saleable area in the project had doubled after the billionaire industrialist's group firm got the rights to execute the project. Raising the issue under Rule 293, Gaikwad said, "Dharavi slum has an area of 160 hectares. After redevelopment the saleable area will be 10.5 crore square feet. In 2018, when Devendra Fadnavis was Maharashtra chief, the builder who carries out the redevelopment was supposed to get just 5 crore square feet."
Realty developers to approach Maharashtra govt to reconsider Dharavi TDR usage move
The TDR mechanism allows transfer of unused development rights from one zone to another and these rights can be bought by developers at a certain price to increase their permissible development in a project depending on the location. In the prevailing market conditions, the TDR rates hover around 30-40% of the ready reckoner value of the receiving zone.
Adani-led Dharavi Redevelopment Project says “vested interests” looking to derail process
Adani Group-led SPV Adani Properties has accused vested interests of delaying the urban transformation work for Asia's largest slum in Mumbai. The state government has made the use of 40% transferable development rights (TDRs) from the Dharavi redevelopment project mandatory for realty developers. The government holds 20% in the Dharavi Redevelopment Project Pvt Ltd (DRPPL).
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"Alleging favouritism of any kind is a mischievous ploy to muddy the waters...," Adani group responds to TDR controversy
The Adani Group has defended the alleged unfair bidding process of the Dharavi Redevelopment Project, stating that the Maharashtra government has allowed the use of Transfer of Development Rights (TDR) without indexation. The group clarified that the generation of TDR within the Dharavi Notified Area (DNA) was permitted since the Government Resolution (GR) of 2018, which was further modified in the GR of 2022.
BJP govt 'benefitting' Adani with another 'revdi': Congress on Dharavi redevelopment project
The Congress has been targeting the Adani group, accusing it of benefitting from the BJP government and has been demanding a JPC probe into the allegations made by by a US Research group Hindenburg. The business conglomerate has denied any wrongdoing on its part.
"Land encroachment in Visakhapatnam started during previous govt": Andhra's IT Minister Gudivada Amarnath
The Minister further alleged that Pawan failed to notice the irregularities at Ganga Institute of Technology and Management (GITAM) College because of his association with Chandrababu Naidu. Minister Amarnath also criticized Pawan Kalyan's objections to government structures, stating that Pawan should refrain from making baseless claims. He compared Pawan to the notorious Dandupalyam gang and suggested that Pawan should educate himself by reading books.
How to get full refund of train ticket for cancelled or late running trains
Due to severe rainfall in North India, there are train delays and cancellations. Passengers are entitled to a full refund if the train is three hours or more delayed or cancelled; for e-tickets it's automatic but counter tickets require a visit to the reservation counter. A TDR can be filed if the train consistently experiences delays after the chart has been prepared.
Dharavi project gift from Maharashtra govt to Modi's crony Adani: Congress
Congress general secretary Jairam Ramesh alleged that changes were made to tender conditions to ensure Adani Group was the only feasible winner. The project had originally been awarded to a different bidder, he said.
India operations of ALD Automotive and LeasePlan to merge
To lead strategic development of the combined entity in India, Tim Albertsen, chief executive, ALD Automotive-LeasePlan, has appointed Suvajit Karmakar as country MD and Asia sub-regional director of the merged entity to oversee business activities for the group in Malaysia and Thailand.
Govt plans time-bound redevelopment of 11 dilapidated chawls on NTC mills land, Minister Piyush Goyal
The government is looking to expedite the redevelopment of 11 dilapidated chawls on the National Textile Mills’ nearly 14-acre land in Mumbai soon in a time-bound manner, said Union Minister of Textiles, Commerce and Industry, Consumer Affairs and Food and Public Distribution Shri Piyush Goyal.
Mukesh Ambani and Apollo close in on Boots buyout
Reliance and Apollo have been in dialogue with global banks and financial institutions to stitch together funding for what would arguably be its largest cross-border acquisition till date.
Billionaire British brothers Mohsin, Zuber Issa and TDR buy Walmart's Asda for $8.8 billion
The deal, led by Mohsin and Zuber Issa who founded the petrol station operator EG Group nearly two decades ago, and TDR means Asda will be back under British ownership for the first time since 1999, when Walmart paid 6.7 billion pounds for the business.
Karnataka Govt plans ePlatform to trade TDRs like equity
The TDR scheme was introduced by the state government in 2006, but failed to take off.
TDR scam probe back with ACB, charge sheet may take six months
The ACB, a government arm set up to check corruption, is hoping to close the probe and file charge sheet in 6-7 months.
No clear definition of 'ongoing project' may lead to disputes under new GST rates for real estate
Lack of clear guidelines and apprehension of possible controversy around transition of unutilised input tax credit as on 31 March 2019, has been a key issue for the sector.
Kundalahalli gate may see smooth traffic in a year
The Bruhat Bengaluru Mahanagara Palike (BBMP) has started widening a portion of Varthur main road in order to build an underpass at the Kundalahalli Gate junction.
Re-revised TDR soon as infrastructure projects suffer
The letter cited the case of Alphonse from Doddakannelli village, a landowner whose converted agriculture land has been acquired for a project and to which TDR has been issued.
Lawyers alone to gain from New TDR Rules?
The new rules were seen as the Urban Development Department’s attempt to make land development rights far more attractive for private landowners willing to give up land for government infrastructure projects.
New transferable development rights rules hit landowners hard
In July 2017, the BBMP issued a notification announcing the acquisition in four villages along the Iblur junction-Sarjapur Road for another road-widening project.
The fault is not in Rain Gods, but ourselves, our poor planning
Town and Country Planning (Regularisation of Unauthorised Development or Constructions) Rules, known as Akrama Sakrama, was first proposed through an amendment to KTCP Act in 2004.
Land-losers spurn new TDR scheme
For the BBMP, acquiring private land has always been a challenge as compensation rates are high under the Right to Fair Compensation and Transparency in Land Acquisition Act.
Rs 11 crore levied as 'superfast' surcharge, but trains delayed up to 95% of times
The study on the movement of some of the superfast trains between 2013 and 2016 revealed that Kolkata-Agra Cantt Superfast (SF in railway jargon) was late 138 days out of 145.
Linked to market value, TDR may now lure developers
The latest policy, coming after a long delay , brings the curtain down on uncertainties on the use of TDR certificates in Bengaluru and other important cities.
Bengaluru's old TDR holders may not gain much under new regime
The quantum of TDR moved from low to high from zone A to C and a TDR could move only from zone A to C and not the other way round.
Bangalore: New TDR policy likely to remove lack of clarity on 'setback'
Setback refers to the minimum distance a builder is required to maintain between a building and road or other neighbouring structures.
TDR and much more for Karanataka municipalities' residents
Town-planning authorities will grant two and a half times the “notional land" for every foot of land acquired for public purposes in Karnataka municipalities.
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