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What are transferable development rights? Discuss their possible contribution to the development of the urban areas in the country.

Topic : Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

4. What are transferable development rights? Discuss their possible contribution to the development of the urban areas in the country. (250 words)

Reference: Financial Express 

Why the question:

The opinion from financial express explains to us in what way transferable development rights can prove to be a win-win deal.

Key Demand of the question:

One must explain the concept of transferable development rights in detail and discuss their possible contribution to the development of the urban areas in the country.

Directive:

Discuss – This is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.

Structure of the answer:

Introduction:

Start by defining what transferable development rights are.

Body:

Transferable Development Rights or TDR is an economic tool that has been successfully tried and tested internationally in various forms. It enables cost savings and meets the infrastructural needs without compromising on the location, time and rights of the property owners.

In India, this tool was first used in Mumbai and later in Ahmedabad, Bangalore, Pune, and others, with varied purposes and responses. Hyderabad adopted this tool in a user-friendly way. First, let us understand what this tool is and what it means to urban dwellers.

Discuss how it is a win-win deal, where property owners get timely and market-based returns from their property, and urban local bodies get space to provide facilities without huge expenditure for a larger public good.

Conclusion:

Conclude with way forward and its importance.