Is gst applicable on sale of tdr ( fungible fsi)?

As of today...... not applicable (an option in lieu of land/Immovable property). But Government wants to bring it in GST ambit......

Yes sh. dhirajlal ji is correct

As to Entry 2(a) of Schedule II Vs. Entry 5 of Schedule III of CGST Act, 2017 –

Schedule III of CGST Act, 2017 which prescribes certain supply to be treated neither as supply of goods nor supply of service includes sale of land and building and hence not leviable to GST.

Further, schedule II of CGST Act, 2017 makes it mandatory to treat any lease, tenancy, easement, license to occupy land as a supply of service.

So in reference above , it is neither a tenancy, nor a licence to occupy , so far it is not cover under Goods & Service Tax Act