<p>The State government will set up an expert committee to review the concept of Transfer of Development Rights (TDR) issued to citizens who give up their properties for public projects. <br /><br /></p>.<p>The expert committee to be headed by Additional Chief Secretary D Satyamurthy will be given a broad Terms of Reference for looking into the viability of the TDR concept, Law Minister T B Jayachandra said here on Friday. <br /><br />“We have noticed a huge disparity between the number of TDRs issued by the civic bodies, and those actually utilised by the people,” he said. “It’s all too obvious that there are some loopholes in the TDR concept. That is the prime reason for forming the committee.” <br /><br />For public projects<br /><br />Of the 15,75,510 sq mtr of TDR issued in Bangalore, just 5,29,075 sq mtr has been utilised. TDR certificates have been pending for 10,72,534 sq mt. In Mangalore, data shows there is a balance of 27,783 sq mtr of TDR certificates with 81,484 sq mtr of TDR issued. The committee will also explore the possibility of making TDR mandatory for acquiring land for public projects, the minister said. <br /><br />When asked whether making TDR mandatory would contravene the Land Acquisition Act, 2013, as per which monetary compensation must be paid to land losers, Jayachandra appeared dismissive. “TDR is a concurrent matter. If the civic bodies do not have the money to compensate the land losers in urban areas, then TDR can be considered a valid transaction note,” he said. <br /><br />Across the society<br /><br />The committee will consist of officials from the BBMP and the BDA, besides qualified personnel from the private sector and the RBI. <br /><br />Jayachandra said the government was seeking assistance from the Securities and Exchange Board of India (Sebi) to evaluate the viability of the TDR concept. <br /><br />The committee will submit a report next month. If TDR is implemented properly, the government stands to make at least Rs 5,000-6,000 crore a year. <br /></p>
<p>The State government will set up an expert committee to review the concept of Transfer of Development Rights (TDR) issued to citizens who give up their properties for public projects. <br /><br /></p>.<p>The expert committee to be headed by Additional Chief Secretary D Satyamurthy will be given a broad Terms of Reference for looking into the viability of the TDR concept, Law Minister T B Jayachandra said here on Friday. <br /><br />“We have noticed a huge disparity between the number of TDRs issued by the civic bodies, and those actually utilised by the people,” he said. “It’s all too obvious that there are some loopholes in the TDR concept. That is the prime reason for forming the committee.” <br /><br />For public projects<br /><br />Of the 15,75,510 sq mtr of TDR issued in Bangalore, just 5,29,075 sq mtr has been utilised. TDR certificates have been pending for 10,72,534 sq mt. In Mangalore, data shows there is a balance of 27,783 sq mtr of TDR certificates with 81,484 sq mtr of TDR issued. The committee will also explore the possibility of making TDR mandatory for acquiring land for public projects, the minister said. <br /><br />When asked whether making TDR mandatory would contravene the Land Acquisition Act, 2013, as per which monetary compensation must be paid to land losers, Jayachandra appeared dismissive. “TDR is a concurrent matter. If the civic bodies do not have the money to compensate the land losers in urban areas, then TDR can be considered a valid transaction note,” he said. <br /><br />Across the society<br /><br />The committee will consist of officials from the BBMP and the BDA, besides qualified personnel from the private sector and the RBI. <br /><br />Jayachandra said the government was seeking assistance from the Securities and Exchange Board of India (Sebi) to evaluate the viability of the TDR concept. <br /><br />The committee will submit a report next month. If TDR is implemented properly, the government stands to make at least Rs 5,000-6,000 crore a year. <br /></p>
