Master Plan 2 amendments will lower TDR value

Master Plan 2 amendments will lower TDR value

Mangalore Today News Network

Mangalore, May 29: Mangalore City Corporation (MCC) councilors opposed the amendments made to Master Plan 2 of the Mangalore Local Planning Area, on grounds that those amendments devalued Transfer of Development Rights (TDR) certificates, benefiting builders more than those who gave up their land.





TDR certificates are given away as compensation to those who part with their property for a government project. These certificates can be sold to those who want to construct buildings bigger than what the law permits, or alternatively, TDR certificate holders can build bigger buildings themselves.

Shashidhar Hegde, who raised this issue, said that a clause in the revised zonal regulations removes the need for builders to compulsorily purchase TDR certificates when he seeks permission to build structures larger than those permitted by the law. The rules related to floor-area ratio restrict the size and height of buildings depending on the measurement of sites.

Explaining the matter, Mr. Hegde said that realtors launching large construction projects had to opt for premium FAR by paying a fixed amount to the government and purchasing TDRs for half the measurement of the site. Since the amendment does not make it mandatory for builders to purchase TDRs, the value of TDR certificates will plummet, which means that nobody will give up their land for development. He said that the amendment will benefit only builders.

Harsha B. K., the member of the town planning committee of Mangalore Urban Development Authority (MUDA), said that the state government approved the revised zonal regulations on May 11 and that they will be enforced from May 20.

Naveen D’Souza voiced his opinion that this amendment will be a severe blow to those who have obtained TDRs by giving up land in Valencia, Mangaladevi Temple, and Car Street.

Sudhir Shetty demanded that Dr. K. N. Vijayaprakash, the commissioner of MCC, should order an inquiry into allegations that certain corporation officials are involved in trading of TDRs. He also asked the commission to set up a separate cell in the town planning section for TDRs.

Mayor Praveen said that a councilors’ meeting will be held on Tuesday to discuss TDRs, and the commissioner said that he will open a TDR cell shortly. A special meeting of councilors will also be held to discuss road-widening issues. The mayor also said that a meeting will be convened on June 2 with the leaders of street vendors’ unions to discuss the problems related to eviction of street vendors from the roadsides.