Sites, more FAR under TDR?

Sites, more FAR under TDR?
R Krishnakumar | TNN

Bangalore: For those surrendering their properties to infrastructure projects, the Bruhat Bangalore Mahanagara Palike (BBMP) is coming out with several new proposals like giving BDA sites as compensation.
Since the TDR (transfer of development rights) does not involve cash compensation, a major grouse of the citizens, the BBMP has mooted BDA sites to compensate the loss of property. This will again, depend on a case to case basis; as also on the availability of required number of sites with BDA.
The BBMP move assumes importance in the backdrop of the palike expediting its project to widen 45 roads in the city. The possibility of a public backlash was among the reasons that kept the road-widening drive on hold.
BBMP commissioner S Subramanya told TOI on Monday that a possible component in the Transfer of development rights (TDR) model could be the provision of more builtup area as compensation. At present, the BBMP offers TDR on a floor area ratio (FAR) at the rate of 1.5; that is, a person who surrenders property for an infrastructure project is compensated with an extent of FAR 1.5 times the surrendered extent.
The person who surrenders the property can either use the additional built-up area in the plot itself or another plot he owns elsewhere or trade the TDR along with a development rights certificate (DRC) in the market. REVISION DRIVE
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Bangalore: The Bruhat Bangalore Mahanagara Palike (BBMP), which is considering reworking its transferable development rights (TDR) scheme following opposition to the earlier model, is looking at the possibility of granting more floor area ratio (FAR) to land-losers in lieu of the acquired land among other sops.
The corporation has, as one of its proposals, a provision to increase the rate in certain areas. “In some areas in the central district, for instance, we can look at a model wherein the citizen is compensated with TDR at the rate of 2.5,’’ BBMP commisioner S Subramanya said.
The revised model is expected to factor in the citizens’ demands for use of the built-up area on the same plot, rather than elsewhere. The possibilities of incorporating the tenants’ interests into the TDR model are also being explored.
While the trade potential of TDR is far from realised in Karnataka, the state’s apex developers’ body feels that with clearer norms, TDR could spell a positive change to the land acquisition model in Bangalore. “The concept is new in Bangalore and it will take time for the people to understand the real benefits of TDR. The idea should be in making the terms clear through legislation and have people volunteer to accept TDR, like in Hyderabad,’’ said A Balakrishna Hedge, president, confederation of real estate developers association of India (CREDAI), Karnataka.
The developers’ body, though, sought consideration of the tenants’ interests in the revised model. TDR, in its present format, doesn’t offer benefits for tenants, leading to complications during eviction of tenants in surrendered properties.