Heritage panel mulls TDR incentives to private owners
Mumbai Heritage Conservation Committee began discussions on Friday to decide if TDR (transfer of development rights) incentives can be extended to private owners.
"Members have begun preliminary discussions on the proposal of the previous committee, whose suggested modifications would be considered in greater detail in the coming meetings," said chairman V Ranganathan.
The committee has also put the remaining 70 proposals seeking permission for basic and major amendments in heritage structures on the fast track. These have been pending for over a year.
In a bid to incentivise conservation of private heritage structures, the previous committee had cleared a proposal in May 2011 to index TDR that a heritage structure gains from a property, equate it monetarily to rates prevalent in the area and grant TDR based on that value. However, its term ended before the proposal could be forwarded to the state government.
The present committee is considering granting FSI to developers through TDR incentives for development of commercial properties as well.
Currently, TDR can be used only for development of residential properties.