Builders and Land Bankers making a fortune out of TDR Scheme
The TDR-based road widening project, which did not go down well with residential property owners, is turning out to be a lucrative business proposition for builders and land bankers.Owners who are sure of losing a large area, are open to selling their buildings. Builders, buying such properties, do the amalgamation of plots, surrender the land under TDR, get additional FAR, which is subsequently used in their own mega projects.
With the real estate looking up, builders are using TDR as a good business tool. Builders, buying such properties, do the amalgamation of plots, surrender the land under TDR, get additional FAR, which is subsequently used in their own mega projects. The BBMP has so far issued 251 DRCs for the 21.3 lakh square feet of land surrendered and FARs to a tune of 31.85 lakh square feet.
BBMP assistant commissioner (land acquisition, TDR) K Jyoti said that though the scheme was yet to warm up with residential property owners, builders are encashing on the additional benefit.
Courtesy: Bangalore Mirror
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