With the state government’s white paper on state finances, which was presented to the state legislature on Friday, suggesting that the government was incurring an additional burden of Rs 30 lakh in the rehabilitation of each slum family under the transfer of development right (TDR) policy, it also spoke of profiteering by developers and misuse of TDR. It sought an overhaul of the TDR policy, which was drafted by the state’s finance department, while demanding that tendering be used to award slum projects to development.
TDR, which is also referred to as Development Rights Certificate, is virtual building rights provided in urban area in lieu of area surrendered for development of public reservation or used for rehabilitation of slum families.
The report also revealed statistics on the TDR generated in Mumbai since 1991, when the state introduced the policy.
Mumbai has generated a staggering 12.26 crore sq ft of transfer of development right (TDR) over the past two and half decades, an official report claimed.
Existing development control norms in Mumbai permit utilisation of TDR for construction projects in the suburbs.
The paper claimed that the generated stock’s total worth was Rs 33,300 crore. Of the total stock, about 64 per cent, 7.86 crore sq ft, was generated through slum redevelopment projects, the report further revealed.
State housing minister Prakash Mehta had earlier said that the state planned to formulate a master plan for all slum colonies using a tendering process to award slum development projects to developers. Chief Minister Devendra Fadnavis-led Urban Development Department is also working on a revised TDR policy, where it plans to make TDR in lieu of development of public reservations more lucrative.