In a bid to develop Hyper and High potential urban complexes, Haryana CM announced the launch of new integrated licensing policy (NILP) 2015. The policy aims to maintain proper balance between the aspirations of farmers, property buyers, real estate developers and the government.
- Cities in which Hyper and High potential urban complexes to be developed: Gurgaon-Manesar, Faridabad-Ballabhgarh, Sohna, Sonepat-Kundli, Panipat and Panchkula-Kalka-Pinjore.
Under this policy Haryana Govt introduces the concept of Transferable Development Rights (TDR) for first time which allows farmers or landowners with small piece of land to voluntarily monetise their land at current market price.
Main highlights of Policy
- This concept will give an alternative to farmers or individual land owners having land less than 25 acres to obtain TDR certificate.
- Builders interested in farmer’s land for projects will have to sign TDR agreement which will be valid for two years from the date of issuance.
- Department of Town & Country Planning have also eased area norms for establishing a colony from 100 acres to 25 acres which provides for a global Floor Area Ratio (FAR) between 1.0 to 1.25 for colony size of 25 acres to 50 acres and above 50 acres, respectively.
- The land owners will have complete freedom in selling the FAR to any builder in a large planning unit.
- Each farmer will be eligible to sell his TDR certificate equivalent to 1 FAR for his land at market rates.
What is TDR?
TDR program allows the landowners to separate the right of ownership of the land from the right of its development.
- Transfer of Development Rights (TDR) means making available certain amount of additional built up area in lieu of the area relinquished or surrendered by the owner of the land, so that he can use extra built up area either himself or transfer it to another for an agreed sum of money.
- TDR agreements will ensure that farmer or landowners get the market price from the builder for their land.
Haryana CM – Manohar Lal Khattar
Haryana Capital – Chandigarh