Home ECONOMY Urban Dev dept to discuss Odisha TDR rule with realtors

Urban Dev dept to discuss Odisha TDR rule with realtors

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Odisha Sun Times Bureau
Bhubaneswar, Feb 6:

Urban Development department has today called for a meeting with the real estate forum for a discussion on Odisha Transferable Development Right Rule-2015 (TDR) which has been severely criticized by the builders and developers.

Real Estate Business

Real Estate Forum has objected to the TDR rule very strongly as they claim it will raise the cost of house for the buyer. The developers and builders will also be affected by the proposal, they said at a meeting held in Press Club of Odisha.

REDA president Kantilal Patel said that “We are supporting TDR policy. But the rules can cause harassment to the common man. Any person or organizations who wants to build 1.2 FAR then they will get permission easily. But, they will have to buy TDR for each floor they construct beyond 2.78 FAR. The TDR will be given to people in return for the private land that government will take over. This will add to the cost of the building to the common man.”

The TDR policy by the government will lead to an increase in 30 to 35 percent increase prices of flats in Bhubaneswar. With rising costs people will not be interested in buying houses, while builders will also face trouble. Government should have discussed the issue before bringing the rule, CREDAI, Common Working Committee member Dr S Tripathy said.

While, chairman of IIA Odisha Chapter Sagarendra Mahapatra has said that the designers will also face difficulty as they will not be able to assume the height of the building. If customers will not give them TDR then they will design according to base FAR and redesign after submission of TDR. If TDR are not available in the market, then the customer will have to give an undertaking.

The forum has also said that since there has been no attempt to educate the citizens about the TDR to the general public, it has given rise to many questions.

Like, what will happen to the TDR after 10 years? Will the citizens who get the TDR to keep them as mortgage and get interest. Is there any guideline for this? Is the TDR compulsory or optional after losing their land?

AFFORD Chairman Umesh Patnaik and N R Nanda were also present on the occasion.