'Granting extra TDR to acquire plots can spark construction frenzy'
The Brihanmumbai Municipal Corporation's (BMC) proposal to offer more compensation to landowners whose plots are being acquired to maintain open spaces demarcated in the city's development plan has received mixed responses from urban planners.mumbai Updated: May 11, 2012 01:23 IST
The Brihanmumbai Municipal Corporation's (BMC) proposal to offer more compensation to landowners whose plots are being acquired to maintain open spaces demarcated in the city's development plan has received mixed responses from urban planners.
The BMC wants plot owners to get a 30% increase in the transfer of development rights (TDR), that is, 1.3 times the plot's potential. It also proposes to ensure that the TDR the owners get is based on the market value of the plot (as per the Ready Reckoner).
These will be major incentives as they make the TDR trade very fair, said an official with the development plan department, on condition of anonymity.
"Earlier, a plot owner giving up prime plot in Bandra costing crores of rupees would get the same built-up area in, say, Dahisar, but that would cost a fraction of the original plot price. So people were reluctant to hand over their plots," he said.
Urban planners are treating the proposal with caution. "The proposal is a fairly good one as it might make it more reasonable for owners to give up their plots. But the BMC needs to explain the rationale behind giving 30% more TDR," said architect Pankaj Joshi. "There is the worry that doling out of TDR will lead to construction frenzy, which will; further burden the city's infrastructure."
Joshi suggested that the BMC instead grant TDR depending on the infrastructure of the area where it will be utilised in.
Last week, HT had reported about how the BMC had come up with a plan to incentivise the acquisition of private plots under accommodation reservation, meant for buildable amenities such as markets, dispensaries, nursing homes and libraries.