The civic body saved over Rs 1,500 crore towards cash compensation due to TDR and ensured projects — especially construction of link roads and flyovers — were executed on time, officials said.
Amid restrictions, owing to the spike in Covid-19 cases, the scheme turned into a win-win situation for property owners, builders, developers and government.
Though TDR concept was introduced a decade ago, till mid-2019, only 115 TDRs were issued. However, with introduction of new policy in 2017 and subsequent amendments, officials said that the property owners opting for TDRs increased along with increase in the city’s infrastructure works. Till date, 807 TDRs have been issued.
TDR is made available for certain additional built-up area in lieu of the area relinquished or surrendered by the land owner, so that he can use extra built-up area or transfer it to another for a sum.
“Apart from additional property value, the provision to sell or purchase TDR has also been an attractive factor. Under the scheme, the extra built-up area could either be utilised by the property owner or sold to others which is a reason builders and realtors come forward to opt for TDR,” said a GHMC official.
Though the TDR concept was introduced a decade ago, the government had issued a GO in 2017 and extended more benefits for property owners.
Speaking at a review meeting at the GHMC headquarters this week, municipal administration and urban development minister KT Rama Rao asked officials said that link road works and the Comprehensive Road Maintenance Programme were progressing on fast track.
He said, “A TDR worth Rs 2,800 crore was submitted for various land acquisitions. The officials are reviewing work under the SRDP as well. As many as 21 works taken up under SRDP have been made available for public while another 17 works would be completed soon.”