Govt For­mu­lates Pol­icy for De­vel­op­ment Near Ur­ban Tran­sit Cor­ri­dors

New ur­ban de­sign to be in­cen­tivised under govt’s Metro Pol­icy & Green Mo­bil­ity Scheme

The Economic Times - - Companies: Pursuit Of Profit - Our Bureau

New Delhi: The Union ur­ban de­vel­op­ment min­istry has for­mu­lated a pol­icy frame­work for tran­si­to­ri­ented de­vel­op­ment (TOD), which pro­motes liv­ing in prox­im­ity to mass ur­ban tran­sit cor­ri­dors such as met­ros, mono­rail and bus rapid tran­sit (BRT) cor­ri­dors.

The Cen­tre is also hold­ing a work­shop on Fe­bru­ary 28 to brief the states and Union Ter­ri­to­ries (UTs) on the 'Na­tional Tran­sit Ori­ented De­vel­op­ment Pol­icy’. This new ur­ban de­sign & plan­ning in the form of TOD is be­ing in­cen­tivised by the min­istry under two more ini­tia­tives — Metro Pol­icy and Green Ur­ban Mo­bil­ity Scheme — which will be dis­cussed with states and UTs for tak­ing them on board, said a re­lease on Sun­day. TOD has been manda­tory under the new Metro Pol­icy, while it has been made an es­sen­tial re­form under the Green Ur­ban Mo­bil­ity Scheme, and is put on pri­or­ity for re­ceiv­ing cen­tral as­sis­tance. Though the Cen­tre had no­ti­fied the TOD pol­icy in early 2015, there was no clar­ity on the process for var­i­ous sanc­tions — man­age­ment of open spaces, park­ing space, wa­ter re­quire­ment, etc.

States and UTs are re­quired to in­cor­po­rate TOD in the mas­ter & de­vel­op­ment plans of cities be­sides iden­ti­fy­ing ‘in­flu­ence zones’ from tran­sit cor­ri­dors for tap­ping rev­enue streams. Though all states are draft­ing their own TOD pol­icy, the new pol­icy frame­work by the ur­ban de­vel­op­ment min­istry is ex­pected to pro­vide ba­sic guide­lines for fi­nal­is­ing it.


De­vel­op­ment, or rede­vel­op­ment, in a TOD zone will be in­cen­tivised by pro­vid­ing sig­nif­i­cantly higher floor area ra­tio (FAR), which will en­able ver­ti­cal con­struc­tion that is re­quired to ad­dress short­age of land avail­abil­ity. TOD also pro­motes in­te­gra­tion of land use plan­ning with trans­porta­tion and in­fra­struc­ture de­vel­op­ment to avoid long dis­tance travel in cities through com­pact de­vel­op­ment.

The pol­icy will be fi­nanced by chan­nelis­ing a part of rise in prop­erty val­ues re­sult­ing from in­vest­ments in tran­sit cor­ri­dors through bet­ter­ment levies & fi­nanc­ing tools.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.