Costing and Revenue

The existing land acquisition mechanism during implementation of an LAP proves cost-ineffective. To avoid this cost, the proposed mechanism to compensate the plot owners whose land will be contributed in development of public infrastructure is based on two major principles If land is re-developable, Depending on the area of plot lost under public domain,

compensation will be granted by 100% FSI of the lost plot

If land is NOT re-developable, Land to land compensation of plot with similar area within the LAP boundary based on a lottery system. If not compensated via land, the plot owner will be compensated through existing TDR mechanism.

There are multiple scenarios in the LAP site, the compensation mechanism for which is proposed as:

Scenario 1 Scenario 2 Scenario 3 Scenario 4

Plot becoming Non-Redevelopable after Deduction Plot Divided by Proposed Roads remaining

redevelopable

Plot Divided by Proposed Roads becoming

non-redevelopable

Plot abutting discontinued and proposed roads

Land-to-land transfer on government plots within the LAP + Sale TDR

Sale TDR + Additional FSI on deducted plot area Sale TDR on deducted plot area + FSI on full lost plot area

Area under road widening is adjusted within area under discontinued road

The LAP proposal has been phased over 40 years as 8 phases of 5 years each, for cost and revenue computation.

Zones declared upon sanctioning of LAP Increasing potential value capture through public investment in initial phases Infrastructure systems to be enhanced incrementally

COST COMPONENTS REVENUE SOURCES

Street enhancement

430CR

Systems of Revenue

46 CR

Sale of Premium FSI 2250CR

Sale TDR charges Sale of public housing units

2080CR

Property Value Primary Sources

Infrastructure 515 CR 1261 CR Tax Development Vending 122 CR 72 CR 8 CR Fees 32.8 CR Charges 9.13 CR Supplementary 800 900 Project Proposals Implementation800 900 Dadar Station Redevelopment 15 CR Public Housing Projects 1494 CR Parking charges 63.1 CR Rent from billboards 3.42 CR Sources Funds can be mobilized from: MMRDA for Station Area Traffic Improvement (SATIS) Scheme BRIMSTOWAD Project funds Funds from: a. Centre : 8% b. Maharashtra State : 20% 1 2 3 4 5 6 7 8 Cost Estimate 132.59 508.56 430.04 420.16 369.46 152.97 147.75 25.25 Revenue Estimate 0.62 828 836 775 780 331 331 80 0 100 200 300 400 500 600 700 800 900 Estimates in Crores Phases 1 2 3 4 5 6 7 8 Cost Estimate 132.59 508.56 430.04 420.16 369.46 152.97 147.75 25.25 Revenue Estimate 0.62 828 836 775 780 331 331 80 0 100 200 300 400 500 600 700Estimates in Crores Phases 1 2 3 4 5 6 7 8 Cost Estimate 132.59 508.56 430.04 420.16 369.46 152.97 147.75 25.25 0 100 200 300 400 500 600 700 800 900 Estimates in Crores 1 2 3 4 5 6 7 8 Cost Estimate 132.59 508.56 430.04 420.16 369.46 152.97 147.75 25.25 Revenue Estimate 0.62 828 836 775 780 331 331 80 0 100 200 300 400 500 600 700Estimates in Crores Phases funding for initial phases Revenue Estimate 0.62 Cost Estimate 828 Cost Estimate Revenue Estimate 836 775 Revenue Estimate 780 331 331c. MCGM Budget 80 : 62% Fig. 37: Phase-wise cost and revenue estimate for the LAP Cost Estimate Revenue Estimate Phases