• search

Transfer and Development Rights to become reality in the city

Written by: Staff
|

Bangalore, Nov 22 (UNI) Following Mumbai, Pune and Hyderabad this growing tech metropolis was all set to implement Transfer of Development Rights (TDR) to facilitate improvement of infrastructure without hampering the interest of property owners, a portion of whose land would be acquired for road widening.

Implementing TDR would benefit developers who despite losing the land would enable to retain the construction of floor area permitted to them and would get an additional 15 per cent in lieu of the land lost in the form of TDR for future rights.

Karnataka Ownership Apartment Promoters Association (KOAPA) which has been promoting TDR with the government was of the opinion that this would also increase the value of the property in view of availability of wide Roads.

Association President Balakrishna Hegde told newsmen here that currently there was lack of awareness among property owners on TDRs and there was need to increase it by the Corporation authorities.

MORE VK MSP RKN1430

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more