Maharashtra Government Proposes Policy Change to Elevate Demand for TDR

By : 360 Realtors

27 November, 2021

In an effort to boost the demand for TDR, the Maharashtra state government has demanded a change in policies. This proposal comes under the unified promotion, regulation and development efforts that will enhance the demand for TDR.

As per the new set of guidelines, minimum FSI and equal TDR would be necessary during construction.

The Municipal Corporation and Slum Development Authority of Pune would benefit from this regulation. They would be able to pacify the process of acquiring lands for SRA schemes and different civic project developments. Besides, this is likely to reduce the need for compensation in cash.

Presently, the office of the municipal corporation reserves the right to decide the priority between premium FSI and TDR. Besides, the government can only deploy these directives after it seeks clearances from the public. In case there are any suggestions from the public, the government needs to consider the same. Moreover, it also needs to think over possible objections that the public might raise regarding civic infrastructure constructions.

As per the fresh directives, the authorities can use equal TDR at each construction stage, when they utilize the premium FSI. As per the officials, as many as 125 projects under this category are waiting to be implemented presently. Most of these projects are heavily reliant on TDR. Due to the hurdles in the process, these projects are either progressing at a sloth’s pace, or have been completely put on hold.

A senior officer of the department stated that they often find it tough to convince the authorities to give up their land in exchange of the TDR. With the new proposal of the government coming in, the infrastructure might see some progressive changes in the coming months. This would pave a smooth path for the development of civic projects in the state.