This may well be a ploy to buy TDRs to regularise their own
violations.Thiswas tried earlier by the Diamond District owners to buy
TDRs from the
violations of Avenue road Market area which has 1 FSI . This failed because
they were eyeing violated FSI
Vinay
Developers keen on buying TDRs
The Times of India
Bangalore: The Karnataka Ownership Apartments Promoters' Association has
said that Bangalore developers are keen on buying TDRs (Transfer of
Development Rights) from property owners along major roads in the city.
The association's new president A Balakrishna Hegde said TDR can be an
effective instrument to acquire land for widening roads. "But the response
to TDRs in Bangalore has so far been limited because property owners are not
clear how they can benefit from it. So we plan to undertake a serious move
to popularise TDRs among property owners," he said.
TDR essentially means making available a certain amount of additional built
up area in lieu of the area surrendered by the owner of the land, which
would enable the owner to use the extra builtup area for himself or transfer
it to someone else in need of the extra built-up area for an agreed sum of
money. Experts say TDRs have worked well in cities like Mumbai and
Hyderabad. TDRs help to ensure that city corporations do not have to spend
money on land acquisition.
The BMP is keen to broaden several roads — including Hosur Road and city
centre roads like Palace Road — through the TDR mechanism. But progress so
far has been slow. Hegde, however, cautioned that TDRs should not be allowed
to be used to regularise buildings with violations.
He also said that the rule that restricts buildings with less than six
floors to have no more than one level of parking be removed. "If this is
done, we can create more parking space," he said.
violations.Thiswas tried earlier by the Diamond District owners to buy
TDRs from the
violations of Avenue road Market area which has 1 FSI . This failed because
they were eyeing violated FSI
Vinay
Developers keen on buying TDRs
The Times of India
Bangalore: The Karnataka Ownership Apartments Promoters' Association has
said that Bangalore developers are keen on buying TDRs (Transfer of
Development Rights) from property owners along major roads in the city.
The association's new president A Balakrishna Hegde said TDR can be an
effective instrument to acquire land for widening roads. "But the response
to TDRs in Bangalore has so far been limited because property owners are not
clear how they can benefit from it. So we plan to undertake a serious move
to popularise TDRs among property owners," he said.
TDR essentially means making available a certain amount of additional built
up area in lieu of the area surrendered by the owner of the land, which
would enable the owner to use the extra builtup area for himself or transfer
it to someone else in need of the extra built-up area for an agreed sum of
money. Experts say TDRs have worked well in cities like Mumbai and
Hyderabad. TDRs help to ensure that city corporations do not have to spend
money on land acquisition.
The BMP is keen to broaden several roads — including Hosur Road and city
centre roads like Palace Road — through the TDR mechanism. But progress so
far has been slow. Hegde, however, cautioned that TDRs should not be allowed
to be used to regularise buildings with violations.
He also said that the rule that restricts buildings with less than six
floors to have no more than one level of parking be removed. "If this is
done, we can create more parking space," he said.