Haryana Finance Minister, Capt Abhimanyu on Friday said that to help farmers and landowners with less than 25 acres to monetise their land holdings at current market price, the concept of Transferable Development Rights (TDR) is being introduced comprehensively in Haryana.
This concept, being introduced for the first time, would give an alternative to the farmers and individual land-owners with less than 25 acres to obtain TDR certificate from the Department, said the Minister while speaking at the national convention on ‘India is Future Ready: Housing and Infrastructure-Key Catalysts’ organised by National Real Estate Development Council (NAREDCO) at New Delhi.
He said that the concept of TDR would help such farmers and landowners to monetise their land holdings at current market price in residential sectors and for the sites or areas designated for external development works, such as sector roads, colleges, hospitals, fire stations, open spaces and green belts.
The State Government had also launched the ‘Deen Dayal Jan Awas Yojna-2015’ for development of small and medium towns. Under this scheme, not only have the Government’s fees and charges been reduced significantly, but the entire procedure has also been simplified and definite timelines have been fixed to complete the projects, he added.
The Minister said that as the Central Government had taken up the challenge of providing ‘Housing to All by 2022’, the State Government had also launched several initiatives in this direction.
To further advance the objectives of ‘Housing for All by 2022’, Haryana Government has recently announced the launch of the New Integrated licensing Policy-2015 (NIlP) for the development of Hyper and High Potential Urban Complexes. This policy is likely to be a game-changer in the urban sector since the policy finds the proper balance between the aspirations of the farmers or landowners, the buyers and consumers of residential plots or flats, the real estate developers and the Government to make a win-win situation for all, said he.
The preparation of the necessary legal framework for its implementation is already underway and is likely to be implemented within the coming quarter. The policy enables the small landowners to voluntarily monetise their land by participating in the entire process of licensing, real estate development and marketing and sale of their Transferable Development Rights, he added.
Capt Abhimanyu said that the private sector had shown immense faith in the recent policy initiatives of the State Government and this was reflected in the Memoranda of Understanding (MoUs) being signed in real estate sector in this summit.
He said that the contribution of the real estate sector could in no way be under-valued, since housing construction is the second largest employment generating economic activity, next only to agriculture, in the Indian economy. It creates vast indirect employment opportunities, apart from direct employment, added the Minister.