Biodiversity Parks in Pune's fringe DP and the 8% TDR
Last week, The Chief Minister of Maharashtra, signed on the proposal to keep intact the Biodiversity Park (BDP) reservation on the hill tops and hill slopes in the New DP for Pune's fringe areas. While, acknowledging the fact that there are many small time landowners in these areas, a 8% Transferable Development Rights (TDR) is being granted as a relief from the hardship faced by these landowners. The two questions that really remain unanswered are the following: 1. What if a large Builder was holding a land area in BDP? Would he also get a 8% TDR? 2. Would a 8% TDR be sufficient for a small landowner to buy a house which he would have built on his land? Again we have to note that the price of a TDR is dependent on market demand and supply conditions. If a large TDR suddenly becomes available, it may mean that the price of TDR goes down, thereby the landowners lose the value of the land commodity. Further, it is anticipated that Developers who have invested in land on hil