TDRS
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.
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.
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).
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.
States, UTs collected Rs 2 lakh cr in FY23 from real estate sector: Report
The real estate sector in India contributed approximately Rs 2 lakh crore to the revenue of states and Union Territories (UTs) during the last financial year, according to a report by Naredco-Knight Frank India. The report also projects that the Indian real estate sector will grow to USD 5.8 trillion by 2047
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Why Aditya-L1? The strange case of the great Canadian blackout
Major objectives of Aditya-L1 include the study of the physics of solar corona and its heating mechanism, the solar wind acceleration, coupling and dynamics of the solar atmosphere, solar wind distribution and temperature anisotropy, and origin of Coronal Mass Ejections and flares and near-earth space weather. Aditya-L1 will study how storms and flares from the Sun emerge and impact us on Earth and our space activities,
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.
View: Rising urbanisation needs innovative planning to manage future financial stress
In most countries, about 50% comprise grants and subsidies, followed by 31% tax revenue, and 10% user charges that have often been insufficient to recover operating and maintenance (O&M) costs. To overcome the financing gap posed by additional future stresses, cities need to increase their own-source revenue (OSR) and innovative capital.
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.
Dream11 co-founder's wife Rachana Jain buys luxury duplex in South Mumbai for Rs 72 cr
While this is a single amalgamated duplex on the 29th and 30th floors, the apartments in the north and south wing of the tower have been registered separately. These apartments have been amalgamated with permission from the Municipal Corporation of Greater Mumbai.
How the Bruhat Bengaluru Mahanagara Palike (BBMP)lost the Covid-19 pandemic plot
The state government on Saturday replaced BBMP commissioner BH Anil Kumar with his predecessor N Manjunath Prasad in a bid to fix the mess. STOI examines the main reasons behind the faltering outbreak response.
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.
Realtors may get GST relief on development rights
This gives real estate developers an opening to explore similar relief under GST through representations to the government or through judicial processes.
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.
Now you can track your rail ticket refund status in real-time
The website 'refund.indianrail.gov.in' only requires the Passenger Name Record (PNR) numbers of travellers to reflect their refund status.
5 lucky winners to get refund for booking rail tickets through BHIM app every month
"A customer, who successfully books an e-ticket on the IRCTC website by using BHIM or the UPI payment options, will be called an eligible customer," read the statement.
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.
NASA's latest communications satellite arrives in orbit
Washington, Aug 18 (IANS) NASA on Friday said its third and final in a series of next generation communications satellites has successfully been placed into orbit.
APPENDIX 6: Prohibited Sectors for Foreign Direct Investment
Real estate business or construction of farm houses - This shall not include construction of townships, residential or commercial premises, roads, bridges and Real Estate Investment Trusts (REITs) registered with SEBI.
CBDT releases draft income calculation norms for real estate
The norms will apply for determination of income from all form of transactions in the real estate with respect to land, buildings and rights therein.
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.
MMRDA receives highest-ever bid for TDRs
MMRDA has received a bid of 52,000 per sq metre, 4,800 a sq ft, for TDRs offered under an auction, which is the highest-ever bid received for TDRs.
MMRDA gets highest-ever bid for TDRs
MMRDA had put a total of 3.22 lakh sq ft of TDRs in Mumbai’s western suburbs of Goregaon and Jogeshwari for auction.
Cidco allows farmers near Navi Mumbai airport to sell TDRs
The city development agency Cidco has allowed the project-affected farmers in the Navi Mumbai Airport Influence Notified Area (airport and the surrounding areas) to commercially use up to 60 per cent of their surrendered land.
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.
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