HYDERABAD: Good news for people looking to purchase Transfer of Development Rights (TDR) certificates in Greater Hyderabad limits. Municipal Administration and Urban Development (MAUD) Minister KT Rama Rao launched TDR Bank at MCHRD Institute here on Thursday.
GHMC has established TDR bank online to facilitate people interested in purchasing TDR certificates. The TDR is given for a certain additional built-up area in lieu of the area relinquished or surrendered by the land owner to the GHMC. The land owner can use the extra built-up area or transfer it to another person for a sum.
The TDR data bank will facilitate landowners to sell their TDR where house owners, builders or developers intending to construct extra floor can purchase from over 1,000 persons possessing TDR certificates. So far, 550 plus TDR certificates have been issued by the GHMC.
At present the process of issuing and using TDR certificates is being done manually. In view of the huge demand and to make the process citizen-friendly, an online TDR bank was developed by the GHMC.
The GHMC faced with the herculean task of acquiring properties for the proposed Strategic Road Development has decided to give sops to owners set to lose their property for the project. Instead of paying compensation, the corporation would extend TDR benefits.
As per TDR, permission will be given for more built-up area than normally allowed as per the building rules. The owner can either utilise the right to additional built-up area or can sell it others.
The State government introduced new TDR policy in December 2017, with increase in issue of 400 per cent TDR for sites affected under road widening and 200 per cent TDR for sites affected under conservation and development of lakes, water bodies etc.
After announcing the new TDR policy, there has been a significant increase in the number of TDR certificates and is been more encouraging for property owners. About 550 plus TDR certificates have been issued by the GHMC so far.
Meanwhile, the government has also extended the use of TDR certificates up to ORR in HMDA jurisdiction. The existing manual TDR certificate holders will be able to convert their certificates into digital format and later sell them.