Hyderabad land Owners Opt For TDR For Govt-Acquired Land
Property owners, whose land had been acquired by government for construction of slip/link roads, have preferred to take transferable development rights (TDR) worth Rs 500 crore — selling price of land acquired — over monetary compensation. “A total 200 properties were acquired for construction of
Published -
Sep 1, 2020 7:20 AM
Property owners, whose land had been acquired by government for construction of slip/link roads, have preferred to take transferable development rights (TDR) worth Rs 500 crore — selling price of land acquired — over monetary compensation. “A total 200 properties were acquired for construction of 37 slip roads. Though the count of properties is low, land acquired to lay these roads is higher compared to road widening,” said a GHMC official. TDR allows for additional built-up area in lieu of area acquired for execution of government projects. As per Hyderabad Road Development Corporation Limited (HRDCL) records, of the 37 link roads, construction of 10 roads has been completed. The preference for TDR has given the government the impetus to push ahead with work on other projects without having to shell out for cash compensations. TDR has been beneficial for land owners as some have gotten benefits close to 400% over the value of their property. In case of cash compensations, they are entitled to 200% compensation based on government rate. An official said that apart from additional property value, the provision to sell or purchase TDR has also been an attractive factor. “Under TDR, the extra built-up area could either be utilised by the property owner or sold to others which is a reason builders and realtors come forward to opt for TDR,” said a GHMC official.
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