Pune CM Suspends ₹750 Crore TDR Proposal, Orders Housing Inquiry

The Maharashtra government has suspended the controversial ₹750-crore Transferable Development Rights (TDR) proposal linked to the Janata Vasahat land in Pune and ordered a comprehensive inquiry into alleged irregularities in its valuation and approval process. The move, initiated by the Chief Minister after reviewing complaints of inflated compensation and discrepancies in land valuation, aims to ensure transparency in the city’s ongoing redevelopment and slum rehabilitation programmes.

According to senior officials in the Housing Department, the decision follows concerns raised about the proposal to award massive one-time TDR to a private developer in exchange for surrendering approximately 40 acres of land under the Slum Rehabilitation Authority (SRA) scheme. The original proposal valued the land and development rights at ₹750 crore  a figure that experts described as “disproportionate” to the actual market value.

A fresh assessment by the Registration and Stamp Duty Department revealed that the land, located at the foothills in Parvati, was worth around ₹109 crore based on a revised ready reckoner rate of ₹5,750 per square metre. This stark difference prompted a reassessment of how such a high valuation had been sanctioned without adequate verification or public disclosure.Officials confirmed that the land’s development classification had undergone several revisions under the city’s evolving development plan. Initially listed as Survey No. 105, it carried a rate of ₹5,500 per square metre. However, during the draft phase, it was temporarily marked under Final Plot No. 661, fetching a much higher rate of ₹39,650 per square metre. When the final development plan was implemented, the plots were renumbered as 519, 521A, and 521B, none of which featured in the latest ready reckoner yet the higher rate was still applied.

This procedural lapse, insiders say, may have led to the inflated TDR proposal, raising suspicions of mismanagement or oversight. The Chief Minister’s directive to the Additional Chief Secretary (Housing) mandates a detailed probe into the approval process, documentation trail, and departmental accountability.Urban development experts argue that such incidents highlight the urgent need for greater scrutiny in land compensation mechanisms within slum rehabilitation projects. They point out that inflated valuations not only burden public resources but also distort the goals of equitable urban renewal and sustainable city planning.The inquiry is expected to bring clarity to the valuation process and determine whether procedural irregularities occurred. The government’s action, observers note, reflects a broader effort to align urban governance with principles of accountability, transparency, and sustainable land use  crucial for building a fair and inclusive cityscape in Maharashtra.

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Pune CM Suspends ₹750 Crore TDR Proposal, Orders Housing Inquiry