Hubtown Limited has informed the Exchange regarding a press release dated Jun 03, 2025, titled "Pursuant to Regulation 30 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Press Release about the Announcement in respect of Transferrable Development Rights (TDR) issued to the Company ".
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Awaiting price reaction for this filing.
Hubtown Limited has received Transferable Development Rights (TDR) of 11,000 square meters from the Maharashtra Industrial Development Corporation (MIDC) and the Municipal Corporation of Greater Mumbai (MCGM). These TDRs were issued as part of the consideration for the company's ongoing slum rehabilitation project located in Andheri (East), Mumbai. TDRs are development rights that allow the holder to construct additional floor space index on other plots, effectively serving as a real estate asset. The company has not disclosed any monetary valuation for the TDRs received. Hubtown is a Mumbai-based real estate developer established in 1989, focused on residential, commercial, and IT park developments.
This is a positive development for Hubtown as it adds 11,000 sqm of usable development rights to its asset base, which can either be monetized by sale or utilized in future projects, potentially boosting future revenue. However, the financial value of these TDRs has not been disclosed, so the actual stock price impact may be limited until valuations become clearer.