TDR Policy to Boost Housing in Haryana

The Transfer of Development Rights (TDR) Policy recently approved by the Haryana government along with liberalization of Group Housing and Plotted Development Policy, is set to give a new thrust to affordable housing.

The nod to TDR Policy assumes significance as developers have been facing a lot of problems in land acquisition under the new Land Acquisition Act for housing and infrastructure development. The TDR Policy has a broad-based concept of Transferable Development Rights (TDRs) under which a landowner with 25 acres or more land gets a TDR certificate for providing his land to a developer who can then sell TDRs at prevailing market prices. Developers on their part, are allowed 1.25 FAR, with a provision to buy additional FAR of 0.25.

Says Pradeep Aggarwal, Chairman, Assocham National Council on Real Estate, Housing & Urban Development and Founder & Chairman, Signature Global, “ The TDR policy along with liberalized norms for group housing and Plotted Developments will boost ease of doing business especially in terms of arranging land for affordable housing projects and providing end-to-end infra for these projects. As part of the New Integrated Licensing Policy (NIILP), the TDR concept will be especially beneficial in Gurugram where land acquisition/aggregation is a challenge besides high land prices”