HYDERABAD: Several residents are now applying for Transfer Development Right (TDR) certificates in the Greater Hyderabad Municipal Corporation (GHMC) limits. Till October 8, the civic body has issued 873 TDR certificates, both manual and online, worth Rs 3,200 crore.
There has been an increase in the demand of issue and utilisation of TDR certificates and has given a boost to the real estate sector since the maximum built-up is received in minimal land sites. Besides, this has resulted in the reduction of a huge financial burden on the GHMC by way of paying cash compensation for the acquisition of properties.
Meanwhile, MAUD Special Chief Secretary Arvind Kumar, in a clarifcation sought by the GHMC, informed that the market values indicated in any TDR certificate are not static and market values prevailing at the time of utilisation of TDR have to be taken into consideration while utilising TDR certificates. He urged the GHMC to extend the revised market values to the individuals who already have unutilised TDRs or are holding by way of sale transfer.
GHMC officials told Express that the civic body is implementing the TDR policy and issuing TDR certificates for the acquisition of properties affected under various infrastructure development activities such as widening of roads under Strategic Road Development Plan (SRDP), general road widening, link roads, development of lakes, nalas, water bodies which has resulted in the reduction of a huge financial burden on ULB by way of paying cash compensation for such acquisition.
With the implementation of TDR policy in the Greater Hyderabad region, there has been an increase in the demand of issue and utilisation of TDR certificates since maximum built up is received in minimal land sites. Even the Central government has recognised the online TDR bank application as one of the best practices in the entire country for the acquisition of lands for developmental works and has also suggested other States in the country to adopt a similar system.
The State government, with a view to promote the issue and utilisation of TDR, have evolved the new TDR policy in Telangana, wherein TDR is issued as 400 per cent for masterplan roads widening, 200 per cent for lakes and water bodies and 100 per cent for heritage buildings. The introduction of the new TDR policy and subsequent amendments issued by the State government from time to time has given a boost to the real estate sector.