The State government has decided to constitute a panel of experts comprising officials of the Reserve Bank of India, and Urban Development and Planning departments to suggest amendments to the Karnataka Town and Country Planning Act to make Transfer of Development Rights (TDR) more transparent and lucrative for landowners in Bangalore and other cities.
Members of the panel would be experts in urban development and property related subjects. The panel would study drawbacks in the TDR scheme and address all contentious issues relating to it to make the development rights implementable in the future, Minister for Law and Parliamentary Affairs T.B. Jayachandra told presspersons here on Friday.
The first amendment to section 14 B of the Act was made in 2003. Land-losers were coming out with new problems related to compensation and floor area ratio (FAR) for their land. The panel would revisit all issues and give suggestions to the government on making the TDR scheme more transparent and beneficial to people, he said.
Noting that the TDR scheme was not successful in Bangalore, the Minister said the Bruhat Bangalore Mahanagara Palike had issued TDRs for 15.75 lakh sq. m but actual utilisation was 5.29 lakh sq. m. In Mangalore, TDRs were issued for 81,484 sq. m, but the actual utilisation was 54,323 sq. m.
The panel would come out with recommendations for setting right imbalances in the TDRs issued and actual utilisation in cities, Mr. Jayachandra said.
On the lines of the Securities and Exchange Board of India, an authority for TDR would be established to make it people friendly. The TDR scheme was applicable only in urban local planning areas and had been an important means for the government to get land from people for development works, he said.
The objective of the TDR scheme in urban areas was to get land for public purpose such as road-widening, playground, parks and schools, the Minister said.
