TDR CERTIFICATES
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.
Redevelopment projects: 8 common mistakes housing societies make when embarking on redevelopment, how to avoid it
The lure of new, modern flats can land ageing housing societies in big trouble. Find out how to avoid it.
ET explainer: TDRs, tool for structured, planned urban growth
The concept of TDRs originated in New York City in the early 1960s. While it has been utilized worldwide since then, it has garnered increased attention, particularly in major Indian cities over the past few decades. This surge in interest is driven by the necessity for organized development to prevent unplanned and chaotic urban growth. The concept evolved as a way to compensate property owners for development limitations in one location by providing them with the option to transfer their development rights to another location where additional development was encouraged.
How to claim money after death of SBI account holder
Here is a look at the process of filing a claim with SBI after the death of an account holder. Before filing the death claim with the SBI, one must check if the account is jointly held with another person or in a single holding. Further, if nomination is registered or not.
Haryana government to come up with a policy for resolution of stressed asset
A dedicated cell comprising of legal professionals and real estate consultants supported by Insolvency Resolution Agency/ professionals shall be created in the Directorate to keep track of all existing NCLT matters in all NCLT benches and track proceedings on a day-to-day basis.
Karnataka cabinet clears Rs 193 crore funding to greenfield airport at Hassan
Former prime minister HD Deve Gowda, who had represented the constituency in the Lok Sabha for long, had been pursuing the project, but there had not been much progress. Chief Minister BS Yediyurappa, however, accepted the request from the people's representatives of Hassan, and agreed to implement it from the state government.
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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.
Home buyers to pay 12% GST on balance due if completion certificate issued by March 31
Builders will not be able to adjust the accumulated credits in ongoing projects in case they opt for lower new GST rate of 5% for normal and 1% for affordable housing.
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.
GST: Real estate sector needs to make significant changes, and fast
The GST council has additionally imposed a condition that 80% procurement by developers should be from registered dealers to avail the composition scheme.
Realtors seek clarity on GST exemption on development rights
Realtors’ body, NAREDCO, has written to the Ministry of Housing and Urban Affairs seeking clarity on this.
GoM to look into feasibility of GST rationalisation, composition scheme for real estate
The Terms of Reference (ToR) of the GoM include suggesting ways for pencilling in a composition scheme for the sector, a finance ministry statement said.
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.
Builder’s not liable to pay for ‘justified’ delay
The order for the first time expands the scope of reasons beyond a builder's control to include administrative conflict, and judicial pendency, as under RERA, unless delay is due to force majeure.
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.
View: Ease the ‘ease of doing business’ in real estate
The next wave of growth in realty shall come from following targeted reforms.
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.
Realty queries: Are stamp duty and registration fee applicable on property resale?
Anshuman Magazine Chairman, India and South East Asia, answers queries from our readers on real estate.
Give up your land for parking lots: BBMP to Citizens
In fact, the civic body has proposed tax rebates for those who part with their land for public parking facilities.
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.
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.
Haryana policy gives big housing a push
The NILP will cover Gurgaon and Manesar, Faridabad, Ballabgarh, Sohna, Sonipat, Kundli and Panchkula.
Haryana announces new integrated licencing policy
The BJP-led Haryana government today announced the launch of New Integrated Licencing Policy (NILP) 2015 for the development of hyper and high potential urban complexes.
Maharashtra government plans demat form of TDRs to check cartelisation
According to the draft housing policy, all TDRs issued by civic and local bodies in the state will be made through an electronic system to be developed by the state government.
Maharashtra government to amend heritage Transferable Development Rights rules
The government of Maharashtra is making a crucial amendment to the rules for Transferable Development Rights (TDR) for heritage properties.
Builders flout rules, sell flats in projects sans clearances
By luring investors to book flats by paying just 10 per cent to 20 per cent before the first brick is laid, developers manage to sell 200 to 300 flats.
Mahindra Lifespaces, GE Shipping in dispute with locals over land ownership
Around 400 residents of the complex are seeking control of the undeveloped land worth over Rs 800 crore inside the complex.
Powai land case costs Hiranandani just Rs 3 cr
The Hiranandani Group has received just a slap on the wrist in the alleged multi-crore land scam involving its Powai project.
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