Kolte Patil, DS Kulkarni surge as Maha govt plans to hike TDR limit

MUMBAI: Shares of realty companies such as Kolte Patil and DS Kulkarni surged higher in trade on reports that the Maharashtra government is planning to increase the Transfer of Development Rights (TDR) limit.

Reports say the government plans to hike TDR to 2.5 from the present 1 in residential zones and 0.40 TDR in agriculture zone across the state, excluding Mumbai.

"At present, 1 TDR is given in residential or other zones across the state, while 0.40 TDR is given in agricultural zone in the state. Now, the TDR limit is to be increased to 2.5 TDR in residential and agricultural zones in uniform ways. This will help the civic bodies or government departments in acquiring land free of cost against the TDR,” a top government official told TOI.

At 10:05 a.m.; Kolte Patil was at Rs 198.70, up 5.27 per cent, on the BSE. It gained 6.80 per cent to touch a high of Rs 201.60 in early trade.

DS Kulkarni was at Rs 97.50, up 3.12 per cent, on the BSE. It surged 3.64 per cent to touch a high of Rs 98 in early trade.