The term Transfer of Development Rights is not well-known among the younger crowds. However, landowners whose land have caught the attention of the Government, or are on the verge of being slated as an upcoming developing area, need to know more about this and in the process should be able to understand clearly the pros and cons of this legal procedure.
To put it in simple terms, Transfer of Development Rights allows for the smooth trading of land between the landowner and the Government for development purposes like widening of roads, construction of schools, playgrounds, and even metro projects. In the TDR program, the Government can take possession of land, either partially or as a whole, in exchange for development rights to be granted to the landowner.
Factors Leading to TDR
The main factor that led to the existence of Transfer of Development Rights was the failure of conventional zoning. … Read More