Hyderabad: Municipal Administration Minister KT Rama Rao today formally launched Transferable Development Rights (TDR) Bank here.
The minister held a meeting with GHMC and HMDA officials and discussed on the development programs under TDR Bank. GHMC has developed a TDR application to implement a Master Plan up to outer ring road for the development of roads, nalas, link roads, and others. It helps online to develop lands, nalas, lakes and resources through land acquisition. This offers 400 percent TDR to road widening works and offers 200 percent hike for the rest of development works.
New TDR effective in 2017 through orders pushed speed acquisition of the lands, for works, roads, link roads, missing roads and others. The Bank provides certification rights to landowners, people to develop and preserve the resources. The details are made online for TDR Bank certificate holders and sellers and mutual transactions.