<p>Finally, transactions related to transferable development rights (TDR) are set to go digital in a month’s time.</p>.<p>The Greater Bengaluru Authority (GBA) is building an online, exchange-like platform to publish all types of information related to Development Rights Certificates (DRCs), which are issued to owners in lieu of cash compensation for parting with land for public projects. The digital marketplace hopes to connect DRC holders directly with potential buyers, including developers.</p>.<p>“We have developed a software to publish all certificates issued under TDR in public domain. The digital platform will show the list of TDRs issued and ones available for purchase,” Tushar Girinath, Additional Chief Secretary at the Urban Development Department, told <span class="italic">DH</span>.</p>.GBA chief to hold public interaction meetings in all five corporations.<p>The initiative comes at a time when TDRs are gaining traction in Bengaluru after a gap of 7-8 years. In all likelihood, DRCs will enter the market in large numbers with the Bangalore Development Authority (BDA) providing TDR as one of the five compensation options for parting land for the 74-km Bengaluru Business Corridor (BBC).</p>.<p>Second, the GBA has also started issuing DRCs for new road-widening projects in the city. It is also in the process of revalidating about 1,500 TDRs it issued several years ago but the process has been slow.</p>.<p>TDR certificates allow developers to build beyond the permissible Floor Area Ratio (FAR) subject to restrictions in a particular location or area.</p>.<p>A senior GBA official said the software would play the role of an exchange platform for TDR certificates.</p>.<p>“People interested in buying DRCs can contact the owners directly. Some states have already built such a platform. We hope to roll it out by March,” said Munish Moudgil, Special Commissioner (IT) of GBA. </p>.<p>The digital marketplace is going to help land losers seek true value for their TDR certificate, which has lost its sheen over the years and more so after the launch of premium FAR certificates. So far, there was little information about the availability of DRCs in the open market, which meant the true cost of DRC was unknown.</p>.<p>In Dec 2024, DH had reported that cities, such as Mumbai, Pune and Hyderabad, have already created a digital marketplace for TDRs, and a similar system is missing in Bengaluru, leaving DRC holders at the mercy of middlemen.</p>
<p>Finally, transactions related to transferable development rights (TDR) are set to go digital in a month’s time.</p>.<p>The Greater Bengaluru Authority (GBA) is building an online, exchange-like platform to publish all types of information related to Development Rights Certificates (DRCs), which are issued to owners in lieu of cash compensation for parting with land for public projects. The digital marketplace hopes to connect DRC holders directly with potential buyers, including developers.</p>.<p>“We have developed a software to publish all certificates issued under TDR in public domain. The digital platform will show the list of TDRs issued and ones available for purchase,” Tushar Girinath, Additional Chief Secretary at the Urban Development Department, told <span class="italic">DH</span>.</p>.GBA chief to hold public interaction meetings in all five corporations.<p>The initiative comes at a time when TDRs are gaining traction in Bengaluru after a gap of 7-8 years. In all likelihood, DRCs will enter the market in large numbers with the Bangalore Development Authority (BDA) providing TDR as one of the five compensation options for parting land for the 74-km Bengaluru Business Corridor (BBC).</p>.<p>Second, the GBA has also started issuing DRCs for new road-widening projects in the city. It is also in the process of revalidating about 1,500 TDRs it issued several years ago but the process has been slow.</p>.<p>TDR certificates allow developers to build beyond the permissible Floor Area Ratio (FAR) subject to restrictions in a particular location or area.</p>.<p>A senior GBA official said the software would play the role of an exchange platform for TDR certificates.</p>.<p>“People interested in buying DRCs can contact the owners directly. Some states have already built such a platform. We hope to roll it out by March,” said Munish Moudgil, Special Commissioner (IT) of GBA. </p>.<p>The digital marketplace is going to help land losers seek true value for their TDR certificate, which has lost its sheen over the years and more so after the launch of premium FAR certificates. So far, there was little information about the availability of DRCs in the open market, which meant the true cost of DRC was unknown.</p>.<p>In Dec 2024, DH had reported that cities, such as Mumbai, Pune and Hyderabad, have already created a digital marketplace for TDRs, and a similar system is missing in Bengaluru, leaving DRC holders at the mercy of middlemen.</p>