Transfer of development rights and long-term land leases now treated as services subject to promoter construction provisions. Inserts two entries making services by any person - (a) transfer of development rights or Floor Space Index (FSI) for construction by a promoter, and (b) long term lease of land (thirty years or more) for construction by a promoter against upfront consideration and/or periodic rent - identified as supplied to a promoter. Adds explanatory definitions for apartment, promoter, project (REP/RREP), REP, RREP, and FSI. Specifies the amendments' commencement date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer of development rights and long-term land leases now treated as services subject to promoter construction provisions.
Inserts two entries making services by any person - (a) transfer of development rights or Floor Space Index (FSI) for construction by a promoter, and (b) long term lease of land (thirty years or more) for construction by a promoter against upfront consideration and/or periodic rent - identified as supplied to a promoter. Adds explanatory definitions for apartment, promoter, project (REP/RREP), REP, RREP, and FSI. Specifies the amendments' commencement date.
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