Latest news with #Bengaluru-MysuruInfrastructureCorridorPlanningAuthority
Time of India
2 days ago
- Business
- Time of India
Now, transferable development rights can be used anywhere in Bengaluru
BENGALURU : The state govt has liberalised the usage of transferable development rights (TDR) certificates in Bengaluru. The new order, issued Tuesday, allows development rights certificates (DRCs) or TDRs to be used anywhere within the jurisdiction of the Greater Bengaluru Area (GBA), regardless of local planning area (LPA) limits. This is the second major reform to the TDR framework in the past one year and is expected to make the market more attractive to builders, landowners, and intermediaries. GBA, currently spread over 709 sq km, includes both core and peripheral regions under the restructured BBMP jurisdiction . Earlier, DRCs issued by one planning authority, such as BDA, could not be used in areas governed by another authority like the Bengaluru-Mysuru Infrastructure Corridor Planning Authority. These jurisdictional barriers limited the market, especially in areas where land values varied significantly, making TDRs unattractive for landowners. The restrictive system also led to malpractices, with instances of DRCs being applied illegally in high-value zones through collusion between builders and officials. By enabling city-wide utilisation, the govt now treats Bengaluru as a single planning entity. BDA will maintain records of all DRC transactions across GBA, ensuring better oversight. A senior BBMP official hailed the move as "a much-needed reform," while a city-based builder noted that the relaxation will remove ambiguity and facilitate vertical growth to meet housing demands. In 2024, the state govt allowed agricultural landowners to receive TDR compensation on par with residential land, provided they pay the necessary conversion charges—another step toward strengthening the TDR ecosystem.
Time of India
2 days ago
- Business
- Time of India
Now, transferable development rights can be used anywhere in Bengaluru
Bengaluru: The state govt has liberalised the usage of transferable development rights (TDR) certificates in Bengaluru. The new order, issued Tuesday, allows development rights certificates (DRCs) or TDRs to be used anywhere within the jurisdiction of the Greater Bengaluru Area (GBA), regardless of local planning area (LPA) limits. Tired of too many ads? go ad free now This is the second major reform to the TDR framework in the past one year and is expected to make the market more attractive to builders, landowners, and intermediaries. GBA, currently spread over 709 sq km, includes both core and peripheral regions under the restructured BBMP jurisdiction. Earlier, DRCs issued by one planning authority, such as BDA, could not be used in areas governed by another authority like the Bengaluru-Mysuru Infrastructure Corridor Planning Authority. These jurisdictional barriers limited the market, especially in areas where land values varied significantly, making TDRs unattractive for landowners. The restrictive system also led to malpractices, with instances of DRCs being applied illegally in high-value zones through collusion between builders and officials. By enabling city-wide utilisation, the govt now treats Bengaluru as a single planning entity. BDA will maintain records of all DRC transactions across GBA, ensuring better oversight. A senior BBMP official hailed the move as "a much-needed reform," while a city-based builder noted that the relaxation will remove ambiguity and facilitate vertical growth to meet housing demands. In 2024, the state govt allowed agricultural landowners to receive TDR compensation on par with residential land, provided they pay the necessary conversion charges—another step toward strengthening the TDR ecosystem.
