TDR

TDR refers to Transferable Development Right and has been introduced under the Regulation No 34 of the Development Control Regulations of the Maharashtra Regional Town Planning Act, 1966. In simple terms TDR means the development right that can be separated from a plot and can be transfered to another plot. TDR is issued in form of Development Rights Certificate(DRC) to the land owner whose land is being either acquired by the municipal authorities or because of a Development Plan reservation the said land cannot be used for construction purposes. In lieu of the the right to use the land DRCs are issued which can be then sold by the holder in the market.