TDR-THE HUMAN ANGLE & NEED FOR A NATIONAL EXCHANGE,
Transfer of development rights, converts the unbuilt portion of your house into tradable wealth but we don’t have it in the shape of negotiable instrument or commodity…do we?
Certification authority of development rights, the municipal commissioners if start thinking like Narendra Modi or any other visionary social entrepreneurs, then FSI credit of one property earned from a particular place and user zone can be sold to another area for utilisation or converted into square feet of building thus creating additional national wealth in terms of housing stock across the country.
Mcs all over the country have to think TDRS beyond roads, parks, utility and heritage property for surplus development rights.
Imagine, slums in Kanpur can be converted into liveable dwelling units when a Seth Ji in Gorakhpur decides to donate or sell his development rights, for money or charity in his deceased wife’s name who belonged to Kanpur.
Or a boy working in it company in Bangalore can, instead of a forced or emotional initiative to compel his parents living in Varanasi , to sell their house at a throw away price or mortgage to get his apartments margin money , can instead get a TDR credit note, for trading with his builder in Bangalore. The home state too earns stamp charges.
Or the joint family deserters or migrants will be saved from breaking away from their roots or family partitions litigations.
The land mafia in all three scenarios will start investing in sips for their retirement plans.
Mumbaikars and Delhiites will be saved from the trouble of driving to Khandala and farm houses as their green parks will not be sold to scamsters and builders.
These accumulated savings in a national TDR bank can create metro rail and waterways infrastructures.
National master planners, can give some job to literally redundant town and country planning department at New Delhi.
National TDR bank can contribute to build thermal power plants at coal pit heads and reduce burden and cost of coal handling.
National TDR bank can be instrumental to create a national pollution control grid and stop burdening the industry with regulation and penalties.
National TDR bank can ask, local development authorities, practically functioning like a disorganised builder, and force to pay land use conversion charges for their schemes / projects,to state and central infrastructure funds instead of evading it in the name of being autonomous govt organisations.
And last but not the least thru national TDR bank, religious and cultural buildings can be built as anchor properties for new town ships instead of Walmart.