DCR 33(7) for redevelopment of tenanted cessed buildings amended. Chandrashekhar Prabhu analyses.

The DCR 33(7) for redevelopment of old and dilapidated cessed buildings in the island city of Mumbai has been amended on 9 th July 2021. With this amendment the incentives to the developers has been virtually doubled. While the profits to the builders in a 200 tenanted building will increase from 80 Crores under the earlier DCR to about 200 Crores in the new one. The tenants have been given a 3% increase in rehab area which does not exceed 12 square feet. How should the tenants react to such blatantly pro builder amendment? Chandrashekhar Prabhu analyses. #Chandrashekhar #Prabhu #33(7) #DCR #selfredevelopment #dilapidated #cessed #buildings #architect