Real estate
This query is : Resolved
Mayur Ejrekar
(Querist)
15 December 2014
What does TDR exactly mean? from whom can it be purchased? What are the Laws related to it?
CS Mitesh Mehta
(Expert)
16 December 2014
TDR stands for Transfer of Development Rights. It is a certificate from the Municipal Corporation that the owner of a property gets where his/her property (either part or whole) is reserved for the purpose of public utilities such as road, garden, school etc.
The rights/ certificate, which is equivalent to the reserved portion, is obtained by the owner on surrendering his property to the Municipal Corporation. These rights/ certificate can then be sold to builders who use it for additional construction on their property. Currently in Pune, additional construction of upto 40% of the plot area is allowed through purchase of TDR and a further 20% is allowed through purchase of slum TDR. Slum TDR is generated through redevelopment of slums
The land acquisition process in urban areas for various public purposes such as road widening, play ground and parks, schools etc. becomes very complicated. The whole process of land acquisition for such purposes becomes time consuming, money consuming. In order to minimize the time needed and t enable the land acquisition process TDR is used.
The rights/ certificate, which is equivalent to the reserved portion, is obtained by the owner on surrendering his property to the Municipal Corporation. These rights/ certificate can then be sold to builders who use it for additional construction on their property. Currently in Pune, additional construction of upto 40% of the plot area is allowed through purchase of TDR and a further 20% is allowed through purchase of slum TDR. Slum TDR is generated through redevelopment of slums
The land acquisition process in urban areas for various public purposes such as road widening, play ground and parks, schools etc. becomes very complicated. The whole process of land acquisition for such purposes becomes time consuming, money consuming. In order to minimize the time needed and t enable the land acquisition process TDR is used.
CS Mitesh Mehta
(Expert)
16 December 2014
TDR stands for Transfer of Development Rights. It is a certificate from the Municipal Corporation that the owner of a property gets where his/her property (either part or whole) is reserved for the purpose of public utilities such as road, garden, school etc.
The rights/ certificate, which is equivalent to the reserved portion, is obtained by the owner on surrendering his property to the Municipal Corporation. These rights/ certificate can then be sold to builders who use it for additional construction on their property. Currently in Pune, additional construction of upto 40% of the plot area is allowed through purchase of TDR and a further 20% is allowed through purchase of slum TDR. Slum TDR is generated through redevelopment of slums
The land acquisition process in urban areas for various public purposes such as road widening, play ground and parks, schools etc. becomes very complicated. The whole process of land acquisition for such purposes becomes time consuming, money consuming. In order to minimize the time needed and t enable the land acquisition process TDR is used.
The rights/ certificate, which is equivalent to the reserved portion, is obtained by the owner on surrendering his property to the Municipal Corporation. These rights/ certificate can then be sold to builders who use it for additional construction on their property. Currently in Pune, additional construction of upto 40% of the plot area is allowed through purchase of TDR and a further 20% is allowed through purchase of slum TDR. Slum TDR is generated through redevelopment of slums
The land acquisition process in urban areas for various public purposes such as road widening, play ground and parks, schools etc. becomes very complicated. The whole process of land acquisition for such purposes becomes time consuming, money consuming. In order to minimize the time needed and t enable the land acquisition process TDR is used.
Mayur Ejrekar
(Querist)
16 December 2014
Is there any involvement of the local Authority (PMC) in the sale transaction of TDR? Or it only involves the buyer and seller of TDR?
(I am assuming that the seller is the land owner as per my understanding)
How can we know about the reserved area of the LA?
(I am assuming that the seller is the land owner as per my understanding)
How can we know about the reserved area of the LA?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
