Chief Minister Devendra Fadnavis and deputy chief ministers Eknath Shinde and Ajit Pawar recently inaugurated the BMC's online TDR exchange. The ‘e-TDR System' will ensure the effective implementation of the Development Plan and provide clear information to landowners regarding the purchase of Transferable Development Rights (TDR).
The marketplace will facilitate the buying and selling of TDR and manage financial transactions via a nodal bank, the SBI. All Development Rights Certificates (DRC) will be dematerialised and maintained electronically.
The initiative aims to boost transaction volume, thereby increasing demand for TDR. Common citizens can also buy Transferable Development Rights (TDR) as an investment.
The marketplace's creation is expected to help bring transparency to the sale of TDR. Individual societies or flat owners can also purchase small amounts of DRC for regularisation or extension purposes without relying on brokers. Special Planning Authorities or civic bodies such as the BMC grant DRC as compensation when they acquire land from landowners as part of the reservation or for infrastructure projects.
The holder of the DRC can sell or otherwise transfer the TDR, either fully or partially, to another party. TDR allows developers to build above the permissible floor space index (FSI), subject to a particular location or area restrictions.
