TDR is to be redeemable in all areas under HMDA limits

The State government has allowed the redemption of the Transferable Development Rights (TDRs) anywhere in the HMDA domains, irrespective of the agency allocating those certificates. Previously, the issuance of TDR was restricted to the ORR perimeters. 

Under the new amendment, buildings that are formed following all the rules without acquiring initial permission and pursuing regularisation might get licenses. They can do so by employing the counterpart value of Transferable Development Rights subject to the satisfaction of other laws and regulations. 

About OCs, the applicants can pay or revise the compounding fee with the counterpart value of TDR.  

The new amendment by the government seeks to offer benefits facilitating the utilization of TDR certificates and increasing demand for the said certificates.  

TDR accruing by submitting land to any agency, including the GHMC, HMDA, and TSIIC, may be sold outside the agency, provided the area comes under the HMDA limits.