Losing land in acquisition? Here’s TDR for you!
land owner can opt for transferable development rights equal to potential built-up space; Bill to be introduced in Assembly
12th July 2018, 04:01 Hrs
the goan I network
The Manohar Parrikar-led Goa cabinet on Wednesday gave its nod to a proposal to amend the Goa Town and Country Planning Act which for the first time introduces the concept of ‘transferable development rights’ for land owners.
TCP Minister Vijay Sardessai announced that the proposed amendment ‘Goa Town and Country Planning (Amendment) Bill, 2018,’ which will be introduced in the upcoming monsoon session of the Goa Legislative Assembly provides for grant of TDR in lieu of compensation for land acquired by the government for public amenities.
Sardessai said, the bill also has a provision for grant of TDR to land owners to be utilized in alternatives sites for land zoned as heritage, agricultural, riverine land, farm land, khazn land, private forest and land under the Coastal Regulation Zone.
He said, the bill provides that the TDRs so granted to landowners may be utilized themselves or these may be transferred to third parties to be used in areas specified in the Regional Plan.
Simply put, once the Bill is passed in the House and subsequently notified by the government, a landowner will have the choice to opt for TDR equivalent to the land’s potential of built-up space in case of loss of land to government acquisitions.
TDRs can also be applied for by land-owners for loss of built-up space potential due to zoning for their land as No Development Zone due to environment protection laws.
Another significant provision in the proposed TCP Act Amendment Bill is the one that empowers the Chief Town Planner (Planning) to consider applications for change in zone demarcated in the Regional Plan and submit his report to the TCP Board. The bill also proposes to give powers to the CTP to make changes in the Regional Plan which are deemed necessary to correct typographical errors or omissions.
Introducing the TDR concept has been a demand voiced by several quarters including real estate professionals who believe it would to an extent offset the hurdle of opposition to development projects from the greens who have for years been up in arms against conversion of Goa’s green cover.
TDRs will trigger vertical growth but help leave green lands untouched as their owners, who would otherwise use political influence to convert them, will be able to option for TDRs and use them for additional FAR in projects and on land permitted under the Regional Plan.