Landowners are entitled to 2.25 times the guideline value of the surrendered land if the land is surrendered for road formation, widening or for implementing any public infrastructure projects. If the land acquired for conservation as heritage sites or buildings, the extra guideline value would be provided through TDR.
Apart from fixing TDR rates, the notification also directs the planning authority to provide duplicate TDR certificate, if the landowners lost the certificates. The guideline value at the time of issue of TDR certificate or actual guideline value, whichever is higher, should be considered for the utilisation of TDR right. TDR certificates will be valid for 5 years from the date of issue.
While welcoming the move providing statutory backing for TDR and defining provisions, KM Sadhanandh, president, Association of Professional Town Planners, said that several landowners were hesitant to accept TDR as there were no clear provisions. “As the new provisions are framed, it will attract landowners. However, the government should make the TDR certificates bankable so that that the owner can avail loans mortgaging TDR,” he added.
He pointed out that the notification had provided only 5-year validity period and there is no clarification in case the TDR remain unused for 5 five years.