Bengaluru, April 19 -- Transferable Development Rights (TDR) notification to be issued by May 17

In a major policy decision, the State Government has approved granting of Transferable Development Rights (TDR) amounting to Rs. 1,400 crore to the erstwhile Mysore Royal Family for acquiring vacant land on both sides of Palace Grounds in the heart of Bengaluru.

The Urban Development Department has been directed to issue a notification to this effect by May 17. Notably, the directive was issued on Mar. 15, 2024, even before the announcement of the LS election schedule.

TDR enables developers to build over and above what is permissible. It is issued by the Government whenever it is unable to pay cash compensation for acquiring the land. In e...