Online trading

MUDA uploads TDR certificates to the website to enable “e-commerce”

The Mangaluru Urban Development Authority (MUDA) will upload Transferable Development Right (TDR) certificates issued to people on its website to enable “e-commerce” to help sellers and buyers, its chairman said on Saturday. Ravishankar Mijar.

He was speaking during a program organized by Mangaluru City Corporation and Mangaluru Urban Development Authority (MUDA) to distribute TDR certificates to people who handed over their private land for road widening projects in the city.

Mr. Mijar said that all TDR certificate holders will need to find a market to sell their TDR in case they are not using it alone. At the same time, TDR buyers also need to know how many TDRs are available for purchase. When the details about the same are available online, it will be easy for both. Smaller TDR holders will also need to secure a market to sell the development rights.

Mayor Premananda Shetty said a healthy balance should be maintained on the supply and demand fronts of TDRs. The proposed ‘e-commerce’ to be introduced by MUDA is a welcome step as more people will come forward to hand over their private land for development projects such as widening of roads, drains and ‘raja kaluves’.

Mangaluru City South MP D. Vedavyas Kamath said roads with a length of 250 km are being developed in the city now using premium FAR funds.

Thanking those who gave up their land for the projects, Mr. Kamath said some had spared much of their private land with the public interest in mind. For example, Thukaram’s family, his mother Girija and others near Mahakalipadpu donated 70 cents of their land for the widening of the Morgan’s Gate-Jeppinamogaru road. A woman ceded three hundred of her land having her house where she resided for a long time to widen the Sulthan Bathery Road.

MCC Commissioner Akshy Sridhar said MUDA had approved 84 TOR proposals sent by MCC in the past three months. Among them, 41 people had certificates issued earlier and 16 people received the certificates during Saturday’s program. Other TDR proposals are in the pipeline for clearance from MUDA, he said.

The MCC praised Ms. Girija for handing over 70 cents of land. Other TDR holders who received the certificates received roses as a sign of gratitude.