March 23, 2018

MUMBAI : The state government, it appears, wants to monetise every bit of open space available in Mumbai.

It has set up a panel to measure unused development potential of all government-owned land for generation of Transfer of Development Rights (TDR), which will be sold to developers. Loading TDR on a project allows additional construction rights.

The state finance department’s government resolution (GR) covers the national park, national and state highways, railway, port and defence land, monuments, heritage sites, etc.

The GR says such TDR will be called Floating TDR and will be sold to developers in order to boost its revenue.

A committee of officials drawn from different department including R A Rajeev (finance), Nitin Kareer (urban development), Aseem Gupta (rural development) will study the possibility of exploiting development potential of various government-owned lands. The committee will submit a reportwithin six months.

Transfer of Development Rights is floor space index offered to plot owners as compensation for acquisition of land for public amenities like roads, gardens, etc. It is also offered in exchange for undertaking slum rehab projects. It can be bought by a builder and developer and under the Development Plan 1991 which is currently in force it can be used only to the north of a plot generating TDR. This means it can be used only in the suburbs.

Under the new DP-2034 it will be allowed to be used anywhere in the city but its utilisation will be defined by the Ready Reckoner Rates of the plot where it is utilised and where generated.

Sources said TDR was created as a mechanism to compensate land-owners/developers in lieu of purchase of land or construction cost that would otherwise have had to be borne by the BMC or the government. “In this case, the government already owns the land. Where is the imperative to compensate unless it is compensating itself for not developing these open spaces,” said the source.

Open Mumbai, which first mapped the open spaces and natural areas in the city and which has been incorporated in the Draft Development Plan estimates that reserved open spaces and natural areas comprise 50% of the total area of Mumbai. Mumbai is spread over 600-odd sq kms, including all areas under various central government agencies. Of this, open spaces and natural areas are more than one-third.

“At present 240sq km is the total buildable area, and if on this, TDR from Open Spaces and Natural Areas is loaded, one can only imagine the consequences,” said P K Das, activist, architect and town planner.

Architect Vilas Nagalkar said, “Every land has development potential and the government is trying to monetise by allowing it to be utilised elsewhere…infinite development cannot happen because there are restrictions.”

Share This:

Read all Thane Real Estate Latest News

 

To Know About All Real Estate and Property News In Thane and Mumbai Contact Us at 022 2580 6868

Source: ET Realty