Daijiworld Media Network - Mumbai

Mumbai, Apr 14: The Brihanmumbai Municipal Corporation, in collaboration with the Maharashtra urban development department, will launch the country’s first integrated electronic platform for trading Transferable Development Rights (TDR) from April 15.

The new system, known as the e-TDR platform, aims to streamline transactions involving TDR, reserved land parcels, and Floor Space Index (FSI), with mandatory registration for both buyers and sellers.

Transferable Development Rights (TDR) are issued to landowners whose properties are acquired for public infrastructure projects such as roads and gardens, allowing them to receive development rights instead of monetary compensation. These rights can later be used or sold in the market.

Under the new digital system, users will be able to list TDR for sale, participate in online bidding, and complete transactions through secure digital payments. Officials said negotiations between parties will still be permitted before final deals are closed.

A senior civic official said the platform will generate digital contract notes for every transaction, ensuring transparency and legal validity. The system will also include KYC-based registration, banking integration, and AI-driven analytics to monitor market trends.

Ashwini Bhide said the platform will bring greater transparency, reduce delays, and make the process more accessible, especially for smaller developers.

Officials added that the system was earlier piloted and is now being rolled out statewide under guidance from the urban development department.

The e-TDR platform is expected to address long-standing issues in the TDR market, including lack of transparency and difficulty in matching buyers and sellers, while also making participation more inclusive for smaller stakeholders and developers.