16 December 2014
TDR stands for Transfer of Development Rights. It is a certificate from the Municipal Corporation that the owner of a property gets where his/her property (either part or whole) is reserved for the purpose of public utilities such as road, garden, school etc. The rights/ certificate, which is equivalent to the reserved portion, is obtained by the owner on surrendering his property to the Municipal Corporation. These rights/ certificate can then be sold to builders who use it for additional construction on their property. Currently in Pune, additional construction of upto 40% of the plot area is allowed through purchase of TDR and a further 20% is allowed through purchase of slum TDR. Slum TDR is generated through redevelopment of slums
The land acquisition process in urban areas for various public purposes such as road widening, play ground and parks, schools etc. becomes very complicated. The whole process of land acquisition for such purposes becomes time consuming, money consuming. In order to minimize the time needed and t enable the land acquisition process TDR is used.
16 December 2014
TDR stands for Transfer of Development Rights. It is a certificate from the Municipal Corporation that the owner of a property gets where his/her property (either part or whole) is reserved for the purpose of public utilities such as road, garden, school etc. The rights/ certificate, which is equivalent to the reserved portion, is obtained by the owner on surrendering his property to the Municipal Corporation. These rights/ certificate can then be sold to builders who use it for additional construction on their property. Currently in Pune, additional construction of upto 40% of the plot area is allowed through purchase of TDR and a further 20% is allowed through purchase of slum TDR. Slum TDR is generated through redevelopment of slums
The land acquisition process in urban areas for various public purposes such as road widening, play ground and parks, schools etc. becomes very complicated. The whole process of land acquisition for such purposes becomes time consuming, money consuming. In order to minimize the time needed and t enable the land acquisition process TDR is used.
16 December 2014
Is there any involvement of the local Authority (PMC) in the sale transaction of TDR? Or it only involves the buyer and seller of TDR? (I am assuming that the seller is the land owner as per my understanding) How can we know about the reserved area of the LA?
CAclubindia
