Chhatrapati Sambhajinagar:
A delegation of CREDAI office-bearers has urged the municipal commissioner, G. Sreekanth, to make 25 percent utility of transfer of development rights (TDR) instead of the mandatory 50 percent on Tuesday. Meanwhile, the office-bearers claimed the decision has encouraged the developers, who have a stock of TDR, to double the charges in one night.
The builders require additional premiums while developing big housing projects in the city. Hence, the Town Planning section of Chhatrapati Sambhajinagar Municipal Corporation (CSMC) grants relaxation in the Floor Area Ratio (FAR) to encourage the builders to continue the development of the project. Hence, in this relaxation of FAR, the CSMC has made it mandatory to use 50 percent of the TDR.
It may be noted that, as per the newly approved Unified Development Control and Promotional Regulations (UDCPR), the big projects will be granted an additional FSI. If needed, they can enjoy a paid-up premium facility. The decision brought an end to the commercial usage of the TDR. Meanwhile, CSMC administrator G. Sreekanth made it mandatory to use 50 percent of TDR (under the head of additional premium) for the big housing projects covering an area of more than 300 square metres.
The office-bearers also feared that the order would emerge as beneficial only to a select few. They also underlined that as soon as the CSMC took the decision, the charges of TDR had doubled in the market.
Decision on Thursday!
The civic chief conducts a meeting with the town planning section every Thursday. According to the sources, the decision on the CREDAI’s request is likely to be taken on December 28. The office-bearers have submitted their demand in writing. Meanwhile, after going through it, CSMC will have to pass a resolution in this regard, said the sources.