Tag Archive: Real Estate

Goa govt goes slow on TDR land use policy implementation

real estate

Panaji: Months after announcing introduction of the Transfer of Development Rights (TDR) land use policy, the Goa government has decided to go slow on its implementation due to problems being faced by the real estate industry in the wake of GST and RERA. Town and Country Planning Minister Vijai Sardesai had told the assembly during the monsoon session that the TDR policy, which is the backbone of upcoming Regional Plan 2030, will be formulated in the next six months. The TDR was expected to curb increasing conversion of agricultural and orchard lands for other activities, mainly construction of buildings by real estate developers. “We are slowing the work on conceptualising the TDR policy due to introduction of RERA and GST. The implementation of TDR at this stage can affect the entire economy,” he told reporters here last evening. The…
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Railways may unlock prime residential property soon

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NEW DELHI: The Indian Railways may soon unlock its prime residential property across the country for redevelopment, a move that could bring in additional revenue of Rs 20,000-25,000 crore for the national transporter. The Railways owns real estate in all major cities and has swathes of residential property in Connaught Place, Nizamuddin and Chanakyapuri in New Delhi, apart from land in the heart of Mumbai, Bengaluru, Chennai and Pune. The plan is to grant 99-year leases to developer making compelling offers for such land, a senior Railway Board official said. The ministry has asked all 17 zonal offices to compile details of residential land that can be redeveloped and offered to investors. The Railways has over 40,000 hectares of land, of which almost 950 hectares has been encroached upon. Work on the plan to unlock railway real estate…
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