The BJP-led Haryana government on Friday announced the launch of new integrated licensing policy (NILP) 2015 for the development of hyper and high potential urban complexes.
Terming it as a “game changer”, the State government said the policy finds proper balance between the aspirations of farmers, property buyers, real estate developers and the government.
Blaming previous “faulty policy” for the lack of proper development in the State, Chief Minister Manohar Lal Khattar said the new policy will not allow “manipulative methods” adopted by some real estate companies in the past for availing “undue favour”.
Among other highlights, the policy makes way for the internationally acclaimed models of Transferable Development Rights (TDR), allowing farmers or landowners with small piece of land to monetise their land at current market price.
“The policy enables the small landowners to voluntarily monetise their land by participating in the entire process of licencing, real estate development and marketing and sale of their Transferable Development Rights,” he said.
Mr. Khattar informed that the concept of TDR is being introduced comprehensively in Haryana for the first time.
This concept will give an alternative to farmers /individual land owners having land less than 25 acres to obtain TDR certificate.
Relaxing norms for builders, the policy now allows real estate developers to set up projects at less than an area of 100 acres.
Mr. Khattar said in the earlier policies of the Department of Town & Country Planning Department, only a builder owning more than 100 acres of land was considered for developing a plotted colony in these areas.
The Chief Minister said while bringing down the area norms for establishing a colony from 100 acres to 25 acres, the policy provides for a global Floor Area Ratio (FAR) between 1.0 to 1.25 for colony size of 25 acres to 50 acres and above 50 acres, respectively.
These builders can respectively raise their FAR utilisation to 1.25 (for colonies up to 50 acres) and 1.50 (for colonies more than 50 acres) by purchasing the TDRs of the land owners, he said.
The land owners will have complete freedom in selling the FAR to any builder in a large planning unit.
Each farmer will be eligible to sell his TDR certificate equivalent to 1 FAR for his land (e.g. about 4,047 sq m or 43,264 sq ft for each acre of land) at market rates.
