Mumbai real estate: Spike in Slum TDR sends real estate market into a tizzy Hindustan Times
The real estate market is reeling from a sharp spike in Slum TDR rates, which is impacting their profit margins and sending construction timelines of ongoing projects for a toss. According to industry executives, the TDR in Mulund has shot up from ₹3,500 per sq ft six months ago to ₹6,000 currently. In Borivali, the rate has increased from ₹3,000 per sq ft to ₹5,700 in the last six months. TDR, or transferable development rights, refers to rights that enable real estate firms to develop over and above the permitted floor space index (FSI) — the maximum amount of construction allowed on a plot of land relative to its size
