Jammu, July 27: AC approved policy regarding Grant & Utilization of Transferable Development Rights. Under this scheme, for the land surrendered by a land owner or a developer free-of-cost for public purposes such as road widening, public passage, for conservation, heritage and other infrastructure development, shall be granted a non-financial compensation in the form of a TDR certificate specifying the Built-Up Area (BUA) or Floor Area Ratio (FAR) given to a land owner or developer which he can utilize in remaining part of his property or build elsewhere and even monetize by selling TDR to any other developer or user in receiving areas..
This would allow developers to build over above the permissible Floor Area Ratio (FAR) for the land surrendered in congested areas.
TDR policy is aimed to help accelerate implementation of Master Plan proposals and shall be initially implemented in the JDA and SDA jurisdiction.
|