Though the Bruhat Bangalore Mahanagara Palike’s move to introduce Transfer of Development Rights (TDR) have not yielded the desired results, the civic authority is striving to popularise the scheme all the same.

Before launching road widening projects in various parts of the city, the civic authority promised TDR in lieu of monetary compensation to property owners likely to lose their property.

It tried to convince people that there would be demand for TDRs, particularly among builders who plan to construct more floors than sanctioned.

The BBMP’s ambitious plans have, however, hit a roadblock. Firstly, not many property owners have applied for TDR. And, the BBMP has no funds to pay for the stamp duty to register the portion of property relinquished by citizens.

Chikkamuniyappa, Deputy Commissioner (Land Acquisition), BBMP, said that the civic agency had distributed 2,000 to 3,000 TDR application forms to property losers in each of the eight zones in the city. “Since TDR is not compulsory, those who are willing may submit the application with requisite documents. The TDR process has been decentralised,” he said.

After the BBMP gets the relinquishment deed from the property owners, it is required to register the property. Mr. Chikkamuniyappa said the BBMP would then have to pay at least Rs. 150 crore towards stamp duty. “We do not have the funds for that. We wrote to the Secretary of Revenue Department and Inspector General of Stamps about this around three months ago,” he said.

He also said that the BBMP was justified in seeking stamp duty exemption as property was being acquired for public purpose.

“In a meeting chaired by city in-charge Minister Katta Subramanya Naidu, the Commissioner of Stamps and Inspector General of Registrations said that if the property relinquished is registered in the name of the State Government, the civic authority need not pay stamp duty,” he said.

Mr. Chikkamuniyappa said that the civic authority then urged the Government to empower the officials concerned of each zone to register property in favour of the Government by way of a relinquishment deed.

“We are yet to hear from the Government,” he added
Source:The Hindu