Sale of TDR increases as permission given for use of TDRs in newly included villages
Pune : NpNews24 Online – Pune PMC News – TDR | Since permission has been granted for use of TDR in newly included 34 villages in PMC limits, the sale of TDR has increased in last six months. The civic administration feels that since TDR is getting a good price, the land acquisition process will be speeded up. (Pune PMC News – TDR)
The PMC gives TDR, FSI and sometimes cash compensation to owners of reserved lands which are taken over by it. Builders who develop SRA projects are primarily given TDRs. In last few years, by giving TDRs, the civic body has acquired lot of land and has created civic amenities. However, in last few years, due to the slowdown in the construction industry, regulations about use of TDR and problems in carrying out redevelopment, the rates of TDR had collapsed. Till six months ago, the rate of TDR of reserved land was less than 60 per cent of the original price. In SRA projects, the TDR rates were less than 40 per cent of the original cost.
After 2017, the use of TDR zones was fixed. In 2017 and 2020, 43 villages were incorporated into PMC limits. The DP of these villages has not been sanctioned so far. However, the state government gave the permission for use of TDR in these villages in December. The earlier MVA government had allowed the payment of building premiums in phases to encourage the building construction industry. Hence, permissions for constructions were taken on a large scale. This led to an increase in demand for TDR and the rates have gone up. Today, the TDR of a reserved land is being sol for 15 to 20 per cent less than the original cost. Whereas, the TDRs of SRA projects are being sold at the original cost thus heralding good days for TDR holders.
In the market at present, of the SRA projects, 2 lakh sq metres and 6 lakh 19 thousand remains to be sold. Of this, in 2022-23 financial year, in SRA projects, TDR of 57,240 sq metre and TDR of 1lakh 62 sq metre of reserved land has been created.
“In last two years, the building construction industry is witnessing good times in the civic limits. The pace of development in the merged villages had increased. Hence, the demand for TDR is increasing. If reserved lands can be taken over through the TDR route, civic amenities can be provided in less time. Since less funds are available for buying reserved land, the PMC gives preference to the TDR option for purchasing land to build roads, parks and grounds,” said City Engineer of PMC Prashant Waghmare.
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