“Generation of TDR within the Dharavi Notified Area (DNA) was permitted since the Government Resolution (GR) of 2018,” the Adani Group said in a release on Saturday. “It was further modified in the GR of 2022. Both these developments happened prior to the issuance of the 2022 tender, which was won through open and fair competition. In the present, all that the government is doing is currently notifying this as a due process.”
The group added that contrary to the claim that these policy changes are going to benefit a single entity, the final notification from the government has, in fact, capped the minimum usage of TDR in other projects at 40% instead of 50%, as mentioned in the September 2022 government resolution.
Further, the group clarified that the Maharashtra government’s notification earlier in the month put a cap on the pricing of the TDR.
“While there was no restriction earlier on the sale price of the TDR generated from the DNA, the government has now restricted the maximum sale price of TDR to be 90% of the ready reckoner rate of receiving plots to avoid any arbitrary pricing of TDR. To make the TDR process fully transparent, the Municipal Corporation of Greater Mumbai will develop a portal where TDR generated from the project will be uploaded and updated in real-time,” the Adani Group statement said.
In December 2022, the Maharashtra cabinet decided to award the Dharavi Redevelopment Project bid to Adani Realty, the company headed by Gautam Adani of the Adani Group. The project was bid on by the business for ₹5,069 crore.
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