Revised TDR scheme likely

Revised TDR scheme likely

The State government is planning to roll out the revised Transferable Development Rights (TDR) scheme in a month’s time.

The Urban Development Department (UDD) is finalising the draft rules for implementing TDR so that the Urban Local Bodies (ULBs), including BBMP, can easily acquire land for taking up developmental projects.

“Our target is four weeks. The draft is being finalised now. It has to be vetted by the government,” UDD secretary T K Anil Kumar said.

Under the revised TDR, the value of development rights has been increased to two times the total area to be acquired from the existing 1.5 times. The government has linked the revised TDR to the guidance value of land or building in order to prevent its misuse.

A state-level Development Rights Monitoring Authority will be set up to assist people in buying and selling TDRs. The scheme has given an option to property losers to either accept the TDR or seek compensation. Governor Vajubhai Vala recently gave his assent to an amendment bill – the Karnataka Town and Country Planning (Amendment) Bill-2015 that seeks to introduce the revised scheme, Anil Kumar said.