Evolution of Re-development
\ Evolution of Re-development
From 1997 to 2015
- 1991 – 1997 :- Under New DP BMC reserved many plots but failed to pay up.
- 1997 onwards – Application & Use of TDR allowed within suburbs . Only sincere societies could afford to appoint a PMC for safeguard / guidance.
- 1997 to 2003 - Extension of existing building took place at bandra / khar / ghatkoper / higher sale rate localities , etc.
- 2004 onwards – TDR allowed only upon complete demolition and redevelopment. Construction boom started and progressed till 2008.
- 2008 – Market crashed but recovered faster. By 2009 Govt. introduced 79 A guideline under MCS Act . Role of PMC became compulsory.
- 2011 - new BMC commissioner and CM proposed changes applicable by Jan 2012. Fungible FSI applicable. Many developers vanished / renegotiated the offer.
- 2013 – Onwards BMC / state govt. / supreme court imposed certain conditions, which made redevelopment stricter / costly affair.
- 2013 - MHADA new GR introduced special benefits for self – Contract Redevelopment.
- 2014 - called election and fund management year.
- By 2015 – Govt. & BMC is expected to introduce new DP with higher FSI working as per area.