Telangana’s TDR policy turns win-win situation for stakeholders
Hyderabad: The Transfer Development Right (TDR) initiative by the State government has turned into a win-win situation for property owners/ builders/developers as well as the State government. The government was able to acquire 350 acres of land in the city for developmental works without shelling out a rupee and instead of monetary compensation, 864 TDR […]
Hyderabad: The Transfer Development Right (TDR) initiative by the State government has turned into a win-win situation for property owners/ builders/developers as well as the State government.
The government was able to acquire 350 acres of land in the city for developmental works without shelling out a rupee and instead of monetary compensation, 864 TDR certificates were issued while saving Rs 1,500 crore.
“Since five years, 89 roads were widened and works at 55 places have been completed. For these works, a total of 1,805 properties were acquired,” the civic body stated in a press release. While 1,100 properties were acquired for the Strategic Road Development Plan (SRDP),192 properties were taken to develop missing/slip roads and another 511 were acquired for general road widening.
Some of the projects executed by acquiring properties include, Bio-Diversity Flyover, Shilparamam Road under Bridge (RuB), Rajiv Gandhi Flyover at JNTU, Durgam Cheruvu cable bridge, Hitec City RuB, and underpass at Bairamalguda to Chintalkunta Check Post. “The process of acquisition of properties for road widening works in GHMC is applauded as one of the best practices in the country,” the release said.
The civic body said the State government’s TDR policy has given great strength in acquiring properties with minimum burden on the exchequer. As per GHMC records, property owners were willing to part with their land while obtaining TDR certificates in lieu of cash compensation, since the demand for issue and utilisation of TDR had increased rapidly with urbanisation growth.
Following the demand, Municipal Administration and Urban Development Minister K T Rama Rao instructed for an Online TDR Bank. Currently, the TDR bank is developed wherein all TDR transactions are being done online. Niti Aayog has recognised the application as one of the best practices across the country and suggested other States to replicate it.
