Year: 2024
Type: article
Abstract: This paper presents an in-depth legal analysis of the proposed Real Estate and Transferable Development Right (TDR) Exchange framework. It delves into the intricate legal foundations, regulatory requirements, and compliance mechanisms essential for effectively implementing the Real Estate and TDR Exchange in Mumbai. By examining key legislative instruments such as the Maharashtra Regional and Town Planning Act of 1966, the Development Control and Promotion Regulations of 2034, and the Real Estate (Regulation and Development) Act of 2016, this study articulates how these laws intersect to support a robust and transparent exchange system. Furthermore, it incorporates detailed procedural guidelines from the Municipal Corporation of Greater Mumbai's user manuals, ensuring the proposed framework aligns with practical, real-world applications. The analysis identifies potential legal challenges and offers pragmatic solutions to ensure seamless integration and operation. This comprehensive approach underscores the importance of a legally sound foundation to facilitate sustainable urban development through an efficient and equitable Real Estate and TDR Exchange.
Author: Shubhada Subhash Patil
Institution: Narsee Monjee Institute of Management Studies
Language: English
Topic: Urban Planning and Valuation
Subfield: Management, Monitoring, Policy and Law
Field: Environmental Science
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W4404726664