The online TDR exchange of the BMC was recently inaugurated by chief minister Devendra Fadnavis and deputy chief ministers Eknath Shinde and Ajit Pawar.
The ‘e-TDR System’ is designed to effectively implement the Development Plan and provide landowners with clear information regarding the acquisition of Transferable Development Rights (TDR). This marketplace, which was inaugurated on Tuesday, will enable the buying and selling of TDR and will manage financial transactions through a nodal bank, specifically the State Bank of India (SBI). All Development Rights Certificates (DRC) will be digitized and stored electronically. This initiative aims to enhance transaction volume, thereby increasing the demand for TDR.
Furthermore, ordinary citizens will have the opportunity to purchase Transferable Development Rights (TDR) as an investment. The establishment of this marketplace is anticipated to promote transparency in TDR sales. Additionally, individual societies or flat owners will now have the ability to acquire small quantities of DRC for regularization or extension purposes without the need for brokers.
Special Planning Authorities or civic bodies, such as the BMC, issue DRC as compensation when they acquire land from landowners for reservations or infrastructure projects. The DRC holder has the option to sell or transfer the TDR, either in full or in part, to another entity. TDR permits developers to construct beyond the allowable floor space index (FSI), subject to the specific restrictions of a given location or area.
