Development Rights taxable In Case Of Housing Societies

By Accommodation Times Bureau Commissioner of Income Tax-18 Vs. Sambhaji Nagar Co-op. Hsg. Society Ltd., Income Tax Appeal No. 1356 of 2012   Introduction: In Mumbai, hundreds of Co-operative Housing Societies are functioning whose buildings have become old and dilapidated due to age. The societies lack finance and technical expertise to repair their buildings. The societies, therefore, seek the

Slum-In-Situ Rehabilitation policy to provide residential facility under PMAY

By Accommodation Times Bureau CHANDIGARH From the squalor of slums on municipal lands to habitable houses, the dwellers are set to cover the distance soon, courtesy Haryana Government’s Slum-in-Situ Rehabilitation Policy designed to provide the residential facility under the Pradhan Mantri Awas Yojana (PMAY). The comprehensive Slum–in-Situ Rehabilitation Policy under Housing for All- 2018”

Mumbai civic body plans to offer redevelopment sops to buildings in flight path

By Accommodation Times Bureau The BMC’s draft Development Plan (DP) 2014-2034 now includes a proposal for the redevelopment of old buildings that fall in Mumbai’s airport’s “funnel zone”—the approach path of low-flying aircraft. This is the first time in India that a civic body has proposed that buildings that face height restrictions

Karnataka govt plans online TDR trading to nix developers’ cartel

By Accommodation Times Bureau The market for transferable development rights (TDR) -which permits additional construction rights to builders -is poised for a digital leap and this could bring bad news for real estate cartels. Acting on a long-standing demand for breaking the alleged cartelization of TDR by powerful developers, the Karnataka government plans to

BMC ceases TDR redevelopment projects on internal private roads clogged in Mumbai.

By Accommodation Times Bureau Redevelopment projects that are located on the internal private roads of Mumbai have been clogged because the BMC has ceased issuing transfer of development rights (TDR) for such projects. A building industry source said work on an estimated 500 housing society redevelopment projects has been affected for the last few weeks in

Mumbai gets new TDR policy : Ratio to width of Road

By Accommodation Times News Services Mumbai, November 16, 2016 : Government of Maharashtra have notified new Transfer of Development Rights (TDR) policy for Mumbai wide circular TPS-1813/3067/CR-122/MCORP/12/UD-13 dated 16/11/2016.   The high lights of the policy, simplified for our readers, are:   - Cases eligible for TDR : (i) Reservations for public Purposes, new roads, road

TDR absorption reduced to half under in DCR for Mumbai

By Accommodation Times News Services New revised Draft DCR 2034 for Mumbai announed on 8th May 2016 to be notified in due course have reduced consumption / absorption of TDR. Transfer of Development Right (TDR) generated through various methods like Road, Slums, heritage are obligatory for Mumbai Municipal Corporation to honour