Mumbai's Municipal Commissioner, Iqbal Chahal, has endorsed the use of Transfer of Development Rights (TDR) for redeveloping older buildings on internal, private layout roads. This move, conditioned on road dimensions and proximity to public roads, is expected to invigorate urban renewal of numerous aged structures. The decision also insists on a deed to assure perpetual private access. However, the stance on TDR for landlocked plots remains undecided. Despite this, the decision anticipates a promising transformation in Mumbai's real estate scene.
In a strategic decision, Mumbai's Municipal Commissioner, Iqbal Chahal, has granted approval for the implementation of Transfer of Development Rights (TDR) in the redevelopment of older structures located along internal roads, such as private layout roads. This green light is conditional, specifying that the concerned roads must be at least 9 metres wide and no more than 50 metres away from a public road.
A significant stipulation of the new ruling is the mandatory registration of a deed. This deed must assert that private access to the roads will be perpetually sustained, further safeguarding the rights and interests of the property owners.
Despite this progressive move, the decision to allow TDRs for landlocked plots remains on hold. These are plots which possess a Right of Way facilitated through a different plot. This postponement came about even though the approval was given following a presentation from the Practising Engineers, Architects, and Town Planners Association.
As part of this well-devised strategy, the Building Proposal Department of the BMC will document the dimensions of all layout/town planning or BMC Estate scheme roads, along with the Right of Way. As per the approval, commencement certificates for any constructions on such roads will be issued only under the stipulation that the road will first be developed to its utmost width and that this width will not be decreased in the future.
In conclusion, the decision to approve TDRs for buildings on internal layout roads in Mumbai holds promising implications for the city's real estate landscape. By fostering the redevelopment of numerous old buildings, this move not only promotes urban renewal but also maximises the use of the city's existing space. However, the deferred decision on landlocked plots suggests that there are still several complexities to address in the city's urban planning framework.
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