Karnataka government to push TDR to widen Bengaluru's roads
The TDR should be encouraged and it should find a market and buyers.
BENGALURU: Five busy and congested roads in the city will become wider to ensure smooth flow of traffic and the BBMP is encouraging property owners to opt for Transferable Development Rights (TDR), instead of monetary compensation, to give up their land.
Mayor B.N. Manjunath told Deccan Chronicle that busy stretches like Bannerghatta Road, Begur Road, Sarjapur Road, Chickpet Road (in Azadnagar) and Tannery Road will be taken up for widening. Since the BDA is not offering monetary compensation for property losers, the mayor said that there are plans to start TDR banks.
The TDR should be encouraged and it should find a market and buyers. TDR banks will facilitate both sellers and buyers by creating a forum. Bengaluru Development Minister K.J. George has assured the BBMP that the government will come out with a policy to encourage TDR in another 15 days, he said. A property loser can either sell the TDR certificate or use it to put up additional floors. He can put up an additional two times the floor area ratio. The BBMP has, meanwhile, prepared a Detailed Project Report (DPR) to widen the roads and identified the number of properties that have to be bulldozed.
Reacting to an urban development department’s order that TDRs will be issued by the BDA, Mr Manjunath said that he has asked the minister not to hand over the TDR powers from the BBMP to the BDA. In majority of cases, BBMP authorities have to build a rapport with property losers and convinced them to accept TDR, he said. A senior BBMP official said that though the BBMP has prepared the DPR for widening of roads, it cannot be taken up until the policy is finalised and approved by the state government.
The government is thinking of linking the TDR value with the guidance value of properties to create a market for TDR certificates. Meanwhile, builders, who buy TDR certificates the most, have been asking the government to relax the Floor Area Ratio (FAR), setback or parking area for them to buy the certificates at a competitive price.