A TDR concept in Chennai

By Accommodation Times (www.accommodationtimes.com)

Chennai: The Chennai Metropolitan Development Authority (CMDA) is emphasizing on Transfer of Development Rights (TDR) activities that, it should be acceptable for public and successful to the public agencies. This will be the second master plan for the Chennai Metropolitan Area (CMA) for the approval of regulations of TDR. In 2009 government has sanctioned the TDR idea as well as in 2010 government has also approved special TDR for the slum re-settlers.
The idea of TDR for bit of time in several states such as Andhra Pradesh, Karnataka and Maharashtra, Chennai has a different benefit.
Whereas, in Mumbai if city takes TDR for residential purpose then it will be fix for only residential purpose where, contrary to this in Chennai TDR will be used for both purposes residential as well as commercial too.
In 137 planning permission application cases the TDR has so far been partially utilised in situ.
The total amount of land has been taken for street configuration, road widening and link road is 48.6 ha. Whereas, the estimated cost of the surrendered land Rs.85crore. However, for Chennai Metro Rail Project there are approx seven property owners has shown their interest in the project and also agreed to surrender some peace of land for Metro Project by opting Development Rights Certificate (DRC). .

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