Realty prices in Mumbai may rocket on back of Dharavi revamp TDR

Dated on: Friday 17th November 2023

A recent notification from the state urban development department mandates city builders in Mumbai to incorporate transfer of development rights (TDR) from the Dharavi redevelopment project. The directive specifies that 40% of TDR utilized in a building project must originate from the Dharavi initiative. Market observers express concerns about a potential surge in real estate prices in Mumbai when TDR from the Dharavi redevelopment project becomes accessible.