An online portal to facilitate sale of Transfer of Development Rights (TDR) was launched by the Greater Hyderabad Municipal Corporation (GHMC) on Thursday.
The portal, known as TDR Bank, has features such as issue, utilise, sale of TDR certificates and data of existing certificates. It was launched by municipal administration and urban development (MAUD) minister KT Rama Rao.
Property owners who have lost land during land acquisition by the government, and do not want monetary compensation, can opt for TDR certificates. The certificate gives rights to the owner to construct additional built-up area to his property
The certificate acts as permission for additional built up area, which can be constructed anywhere in the city. If the property owner does not wish to raise additional floors or extend built-up area, he/she can sell the TDR certificate.
The government has extended the utilisation of TDR certificates issued by GHMC up to the limits of ORR in Hyderabad Metropolitan Development Authority (HMDA) jurisdiction. Citizens can view the available TDR in the TDR Bank application. The existing manual TDR certificate holders will be given an opportunity to convert the manual certificate into digital platform. As per norms only digital certificate owners can sell TDR certificates.
Till date more than 550 TDR certificates have been issued by GHMC,” read a statement issued by the civic body.