CHENNAI: The Tamil Nadu Slum Clearance Board (TNSCB) is wooing real estate developers to market 20,520 square metre of special transferrable development rights to build homes for 456 slum families under seven schemes.
Sources told Express that the TNSCB had taken the services of CBRE, a global real estate company, to come out with a mechanism to help market TDRs, a mechanism where the government compensates the developer or owner of the land by entitling him to floor space index through a development rights certificate.
CBRE sources confirmed to Express that they are coming out with a mechanism wherein special transferrable development rights will be awarded to private developers or slum clearance board when slum-dwellers residing in lands owned by government departments or agencies are to be resettled to bring the encroached land to its original status or make the land available for any public use.
It is learnt that the special Transferrable Developmet Rights (TDR) mechanism is being worked out by studying the models of Mumbai and Bangalore.
CBRE sources said that special TDR will be calculated based on providing 30 square metre of floor area per slum-dwelling unit. Under this a developer will be getting 1.5 square metre of floor area. The whole mechanism is worked out taking into guideline value of the site where in the slum dweller is evicted to the area where the tenement is relocated.
Under the scheme, the TNSCB will identify private developer to provide alternate accommodation to slum-dwellers proposed to be evicted through a bidding process and enter into an agreement with private developer for the provision of alternate accommodation to slum beneficiaries.
The developer who has obtained the special TDR may utilise it himself or transfer it after getting clearance from member-secretary of the Chennai Metropolitan Development authority.
It is learnt that Slum Clearance Boad has sent proposals for evicting 3,000 families so that it can market 1.35 lakh square metres of Transferrable Development Rights.