Nagpur Improvement Trust to accept TDR too for extra 30 percent FSI

In a major shift in policy regarding additional floor space index (FSI) of 30%, the Nagpur Improvement Trust (NIT) has decided to allow plot owners and builders to avail the facility by giving transferable development rights (TDR). At present, only premium (payment as per ready reckoner value) is permissible to the avail the facility. The NIT board of trustees, in a meeting held recently, has approved the new provision. The resolution will now be submitted to the state government for approval. After the government’s consent, amendment will be made in the city’s development control regulations (DCR). The provision of TDR will be available for areas under the jurisdiction of the NIT. It will also come into force in areas under Nagpur Municipal Corporation (NMC) if its general body passes the resolution and submits the same to the government. Additional FSI of 30% is proving beneficial for plot owners as well as builders. Even, chief minister Devendra Fadnavis had availed it for his under-construction house at Trikoni Park in Dharampeth. As per the proposal tabled before the NIT board of trustees, facility of TDR for additional 30% FSI is being provided to encourage efficient use of land. “NIT and NMC acquire reservation lands. Acquisition of reservation lands is very important for implementation of city’s development plan (DP). Due to the financial crisis, it is not possible for the NMC and NIT to pay amount for acquiring the reservation lands. Also, land owners seek TDR surrendering their properties as they cannot develop for their own purposes due to the reservation. TDR market was affected with the provision of additional 30% FSI only on payment of the premium. Facility of submitting TDR in place of premium for additional 30% FSI will boost the TDR market,” the proposal said. The provision of paying premium for additional 30% FSI available to plot owners and builders will remain unchanged. Pune Municipal Corporation is the first in the state to implement the facility. Following Pune model, the NIT has planned to extend the same in the city. NIT trustee and also NMC standing committee chairman Virendra Kukreja said the facility will be introduced in NMC areas if there is any demand. “If the policy is implemented here, it will be a win-win situation for all,” he said.