40 pc TDR compulsory for builders from New Year

Chhatrapati Sambhajinagar: If the new development plan is to be implemented in future, the Transfer of Development Rights (TDR) should be easily available in the market.

For this purpose, Administrator of Chhatrapati Sambhajinagar Municipal Corporation (CSMC) G Sreekanth made it mandatory for builders to use 40 per cent TDR from the coming New Year.

Currently, 25 pc TDR is mandatory for high-rise buildings.

While implementing the new development plan, the CSMC has to acquire land on a big level for reserved places and roads. It is not possible to pay compensation in monetary form. Then, the TDR is the only option for property owners. No one was coming forward to buy it. So, the administrator forced the builders to take at least 25 pc TDR while using the premium. Now, it has been increased.

A total of 40 pc TDR will be used as a condition from January 1, 2025. At present, builders use the Floor space Index (FSI)of the space as much as possible. Even after that, if they want to construct a tall building, they follow the premium method. The CSMC administration held discussions with city builders before making it mandatory to use 40 pc TDR. The administrator said that the decision was made after taking them into confidence.

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What is premium?

If a builder wants to construct a tall building, he has to take increased FSI. There is a provision for a premium in it. The 1.1 FSI is sanctioned for the city and ‘premium 0.3’ can be used. Builders will have to use 40 pc TDR. The government has fixed the criteria for premium for roads from 9 meters to 30 meters.

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Benefit of TDR sale for CSMC

--Roads and reservation plots will be available for CSMC without any financial expenditure.

--Property holders can get money by selling TDR

--While loading the TDR, the builder has to pay the fee to the Municipal Corporation.

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From builders' point of view

--TDR is not available in the market currently. A condition of 40 pc will delay permission.

--TDR rates will increase, construction costs will increase and citizens will get flats at higher rates.

--CSMC should make the TDR loading process easy.