Published: Publish Date – 12:30 AM, Mon – 27 Jun 22
Bio-diversity flyover project is one of the projects that has been built by the state government by acquiring private properties by issuing TDR certificates instead of monetary compensation.
Hyderabad: The State Government’s Transferable Development Rights (TDR) approach, which had also earned praise from NITI Aayog, is turning out to be a win-win situation for the Greater Hyderabad Municipal Corporation (GHMC) and property owners, builders/developers among others in the state. Government Department.
NITI Aayog recognized online TDR bank application for land acquisition as one of the best practices in the country to execute development works and also suggested that other states in the country should also adopt similar innovations .
TDR certificate gives the property owners whose land has been acquired, development rights for the creation of additional built up area anywhere in the city and the person can also sell the TDR certificate.
With this concept, the civic body can use more than 380 acres of land for building flyovers, road under bridges (RUBs), developing link roads, widening roads, beautifying drains and other developmental activities at a cost of Rs. able to acquire. ,
Instead of paying monetary compensation, GHMC issued 1,049 TDR certificates of compensation amounting to Rs 3,500 crore and as a result, the financial burden on the corporation has been significantly reduced.
Among others, the inaccessible Cheruvu Cable Bridge, Shilparamam RUB, Bio-diversity Flyover, Rajiv Gandhi Flyover at JNTU, Hitech City RUB and Underpass at Bairamalguda are some of the projects that the state government has approved for private properties by issuing TDR certificates instead of monetary ones. acquired by acquisition. Compensation.
Going a step further, the state government has also introduced TDR Bank which enables granting and utilization of TDR certificates among departments like Greater Hyderabad Municipal Corporation, Hyderabad Metropolitan Development Authority and Telangana State Industrial Infrastructure Corporation etc. which are located on Outer Ring Road. operate within the jurisdiction.
GHMC officials said that the property owners are ready to give their land by obtaining TDR certificate in lieu of cash compensation. “The demand for issuance and utilization of TDR had increased in view of the increasing urbanization and development,” an official said.