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file photoMumbai: a government resolution conferring an award Dharavi redevelopment project Adani Realty has been delayed as Dharavi The Redevelopment Authority (DRA) did not calculate the quantum of slum transfer of development rights (TDR) that will arise, sources in the ministry have said.
Question was raised by Adani Realty Ministry sources said in a meeting after the release of the Hindenburg Report.
Sources said after the meeting, 15-20 queries regarding the project were sent to the DRA. These included questions on property tax, GST and survey, among others. The DRA sent two notes to the state’s urban development department in response to the questions. The most recent, a 20-page note, submitted earlier this month details why it is difficult to estimate the volume of slums TDR that will result from the project.
Adani Group has denied raising any such question. A statement issued by the group said, “This is completely speculative, baseless and baseless. We refute any such question raised with the government.”
Ministry sources told TOI at a meeting of officials Adani Group reaffirmed its commitment to the project and said, “The Dharavi Project There is a major project for the group and it will surely execute the project. He also raised questions about the concessions being given by the government to the winning bidder. Commercial units in Dharavi will be paid for five years.
“The quantum of TDR that will be generated depends on the number of slum dwellers who are eligible for free housing. For this, a survey needs to be conducted first to ascertain the actual number of eligible slum dwellers in Dharavi. Not conducted until the Government issues a GR for award of the contract. After the GR is issued, the DRA will issue a Letter of Intent to the winning bidder. Thereafter, a Special Purpose Vehicle with the Government as a partner A survey will be done and it will be done,” said a source.
Another issue addressed by the DRA note is indexation of TDRs. Indexation is calculated on the ready reckoner rate of the land and its value is less in case of slum land, hence slum TDR cost is less as compared to other forms of TDR. DCPR 2034 makes it mandatory for all redevelopment projects using TDR to first utilize TDR generated from Dharavi Redevelopment Project; 50% of TDR to be used for any project should be from Dharavi. A source in the ministry said that the note has asked to do away with indexation.
The source said, “Slum TDR is lower due to stigma as compared to road and open space TDR. If a level playing field is to be created, the index should be overcome.” As far as GST compensation is concerned, sources said it will be provided after the project is commissioned.
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