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FAQ: Is the TDR purchased on the name of the society? The Property Hotline
Posted
May 25, 2016
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May 25, 2016
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2:48Now PlayingExpert: Nirav Jani, Associate partner, Hariani & Co
Q: Is TDR in the society's name a pre-requisite to get IOD? Can conditional IOD be granted?
Answer: TDR (transfer of development rights) emanates from the land to be used for the development of the property. The TDR can be purchased and the FSI of a place can be used from another area however if the society is the owner of the land it should be bought in the name of the society. It’s not a pre-requisite for an IOD because it can be done at the time of construction too. If the conditional IOD is concerned, IOD (instrument of disapproval) itself has many conditions. It is initial approval you need to get even before the CC (commencement certificate) If you comply with the conditions, the approval is granted. When the plan has been sanctioned and is noted by the corporation, the IOD is granted.
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