TDR Policy: GHMC saved Rs 1,500 cr
With implementation of the new TDR Policy, there has been an increase in the demand of Issue and Utilisation of TDR Certificates and gave strength to the real estate sector
Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has so far issued 807 Transfer Development Rights (TDR) certificates valued at Rs 3,095 crores, which helped save around Rs 1,500 crores towards cash compensation as per the new LA Act.
The State government had evolved the new TDR Policy and through GO MS 330 in December 2017 as part of which TDR is issued as 400 per cent for Master Plan widening, 200 per cent for lakes/water bodies and 100 per cent for heritage buildings. With implementation of the new TDR Policy, there has been an increase in the demand of Issue and Utilisation of TDR Certificates and gave strength to the real estate sector, since maximum built up is received in minimal land sites.
The earlier TDR Policy in the State originally started in the year 2006 had 100 per cent for Master Plan roads widening, 50 per cent for lakes/water bodies and heritage buildings. Subsequently, it was amended in 2012 as 200 per cent for Master Plan roads widening, 100 per cent for lakes/water bodies and heritage buildings.
The new policy followed instructions from MA&UD Minister, K T Rama Rao to come up with the new TDR Policy with enhancement of the percentage of issue of TDRs in the State to reduce the financial burden on the local bodies and take up developmental works.
Given the increase in demand for issue and utilisation of TDRs in the State, the Minister had instructed for Online TDR Bank to have more transparency, hassle-free process to the citizens and efficient management of TDR Certificates. Accordingly, it was developed by GHMC last year, enabling 100 per cent online system in TDR certificates. The online application contains all features like issue, utilise and sale of TDR certificates and also dynamic data of extent of available TDR certificates.
The Niti Aayog has also recognised the application as one of the best practice in the entire country for the acquisition of lands for developmental works and has also suggested other States to adopt a similar system.
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