Tdr is like a share cer­tifi­cate

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What is a TDR? A TDR is akin to vir­tual real es­tate be­ing of­fered to farm­ers. The landowner in pos­ses­sion of a TDR cer­tifi­cate can sell the de­vel­op­ment rights to a builder. It can be traded in the mar­ket like a share The Mum­bai ex­am­ple: In Mum­bai, TDR cer­tifi­cates are is­sued to de­vel­op­ers who un­der­take slum re­ha­bil­i­ta­tion projects. But th­ese cer­tifi­cates can be traded and trans­ferred only within a par­tic­u­lar mu­nic­i­pal­ity ward The chal­lenge: In Ma­ha­rash­tra, only a hand­ful of de­vel­op­ers can avail TDR ben­e­fits as the slum re­ha­bil­i­ta­tion projects mar­ket is dom­i­nated by a few real es­tate play­ers. The price of the cer­tifi­cate is also de­ter­mined by them alone Scope of de­vel­op­ment work: The pric­ing of a TDR cer­tifi­cate is de­ter­mined by the scope of work in a city and its struc­ture. For ex­am­ple, Mum­bai is dom­i­nated by re­ha­bil­i­ta­tion projects. Some gov­ern­ments may of­fer a TDR cer­tifi­cate to pri­vate de­vel­op­ers to de­velop a ru­ral area Haryana’s TDR pol­icy: It al­lows a farmer to sell his land to the gov­ern­ment in lieu of a TDR cer­tifi­cate which is equiv­a­lent to 1 floor area ra­tio (FAR) of his land. Builders too can ac­quire land di­rectly from farm­ers and give it to the gov­ern­ment in lieu of a TDR cer­tifi­cate

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