For development of essential facilities, Maharashtra government extended TDR in all over state
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Recently, the State Government of Maharashtra has decided to extend the TDR for various urban conglomerates in all over the state, so that all development schemes can run smoothly even after imposing the land reservation bill. The Transfer of Development Right (TDR) is given by state government in return of land.
State Government of Maharashtra has imposed land reservation for the development of essential facilities such as; education, hospital, institutions, recreation centers and more. Now onwards after this decision, state government can acquire those reserved plots to lie give TDR to the owner of land. However; this TDR can be used for the construction of additional floors in a building and these additional floors can be sold in the market, so that land owners can get freedom from their dues. According to latest decision of state government, now government is free to acquire such reserved plots.
As per the statement of officials of Senior Urban Development Department, “In present, TDR is only available in Mumbai. State Government of Maharashtra has approved its extension of TDR for the urban conglomerate, as currently state government has no or very little funds because most of the available land are neither bought nor compensated and this is the main reason for delayed in several development projects. Allowing TDR will provide an opportunity for the development in upcoming urban localities”. According to Sunil Mantri, President of NAREDCO, an umbrella body of real estate developers; welcomed the decision of state government and government does not have money or resources to buy these reserved lands and due to that development of the region is stuck”. Now the main issue has been removed. Most of the Tier I and Tier II cities are witness for rapid development and urbanization. And due to that state government has changed the policies as per demand and new fabric.
In metro cities, lands are shrinking day by day and due to that TDR is great concept to get the vital land. Apart from that its win-win situation for land owners and state government because land owners will get the equal size of the virtual land and on the same time state government will use the actual land for further development without spending a single penny.
