The Expert Committee on Transferrable Development Rights (TDR) has recommended that TDR, which was to date estimated in terms of land size, should be calculated in terms of cost of land.
The move, if accepted by the State government, would also fetch much greater compensation and hence ease land acquisition for key development and infrastructure projects.
Making a correction to the way TDR is calculated, the committee has recommended that TDR be linked to guidance value instead of area of land lost.
Further, the committee has recommended that the TDR value be fixed at 2.5 times the cost of land instead of 1.5 times the land lost.
The new rules will do away with the zoning of the city for TDR as well.
Currently, the city is divided into three zones A (core city), B (between core city and Outer Ring Road) and C (beyond ORR). One can now sell the TDR in the same zone or transfer it to other zones ( see info box ).
According to the new formula, guidance value plays a key role even while TDR is converted into Floor Area Ratio (FAR) and utilised in another area. “This means TDR acquired in the core city area will yield more sq ft as you go out of the city and vice versa,” said S.B. Honnur, Director, Town and Country Planning, who headed the committee.
He claims the new methodology is a scientific formula where land losers will get maximum benefit and correct the anomalies in the TDR market.
Apart from the change in methodology, the committee also recommended a centralised monitoring authority to oversee the trade in TDR across the city. TDR data is to be made available online and this foresees a system where TDR is traded like stocks and shares.
The report is with the Law ministry, which is expected to draft an amendment to Section 14 (b) of the Karnataka Town and Country Planning Act, 1961 to factor in the new formula.
