Good News For Pune Land Owners As Govt Approves TDR Rules For Infra Projects
A decision that would benefit small land owners in Pune and boost inclusive housing, the Maharashtra government has given its approval to the Pune Metropolitan Region Development Authority (PMRDA) for granting transfer of development rights (TDR) for acquiring land in areas, where it has proposed infrastructure projects. The new norm is part of the Development Control and Promotion Regulations (DCPR) that was approved on December 10.
TDR is an effective tool adopted by authorities to facilitate urban development and infrastructural growth that involves granting certain amount of additional built-up area to developers in place of the plot surrendered by the land owner. The additional built-up area could also be transferred to another owner for a sum of money as mutually agreed.
New norms will result in allotment of an FSI (floor space index) of 0.75 for smaller plots for development purposes. It would in turn take the overall FSI in the region to 1.6 from the current 1.4. This means there would scope for vertical growth in the city.
Besides making way for infrastructural development, the move is believed to push organised housing in the city, especially in the affordable segment. A proposal has been made to make inclusive housing mandatory for any development of over 10,000 square kilometres of land within a radius of 10 km from the boundaries of the Pune Municipal Corporation and Pimpri-Chinchwad Municipal Corporation. According to officials, 20 per cent of land in such projects would be kept for building affordable homes.