The State government on Wednesday issued orders amending the building rules to permit redemption of the transferable development rights (TDRs) anywhere within the Outer Ring Road (ORR), irrespective of the agency issuing them.
Till now, the rules allowed the rights to be sold only within the jurisdiction of the agency issuing them.
According to the amended rules, the transferable development rights accruing by way of surrendering land to any agency including Greater Hyderabad Municipal Corporation (GHMC), Hyderabad Metro Development Agency (HMDA) and TSIIC, may be sold outside the purview of the agency concerned, provided that the area falls within Outing Ring Road.
The decision was taken in view of the rapidly expanding city, and several requests by the recipients of transferable development rights in Greater Hyderabad Municipal Corporation to allow them to redeem them in the city peripheries such as Manikonda and Kokapet.
Transferable developmental rights are issued by various agencies in lieu of compensation for the properties surrendered for widening of the roads and other public purposes.
Demand on rise
Demand for transferable development rights has been steadily on the rise, in view of monetary compensation proving to be a heavy financial burden on GHMC, after the new Act for land acquisition has come into force.
In view of various road widening and flyover projects proposed in the city, the government has been pushing for Greater Hyderabad Municipal Corporation in lieu of monetary compensation.
As per the revised guidelines, the TDRs are equivalent to 400% of the area surrendered with respect to road widening projects, and 200% with respect to lake conservation.
For heritage buildings and heritage precincts maintained with adaptive reuse, the rights are equivalent to 100% of built-up area of such site area.
The TDRs may be used or sold wholly or partly for construction of additional floors than permitted as per the building rules.
So far, close to 500 property owners have preferred TDRs to monetary compensation, after surrendering properties for various road widening projects, officials said.
