Mumbai, Apr 14 (PTI) The country’s first integrated digital platform for Transferable Development Rights (TDR) transactions will be fully operational in Mumbai from April 15, the city civic body said on Tuesday.
The platform is expected to enhance transparency and efficiency in dealings related to reserved plots and Floor Space Index (FSI).
Municipal Commissioner Ashwini Bhide stated that the e-TDR system, developed under the Maharashtra government’s urban development initiative, will enable seamless, secure and faster transactions between buyers and sellers, with mandatory registration for both parties on the portal.
The platform, formally launched earlier by Chief Minister Devendra Fadnavis in the presence of Deputy Chief Ministers Eknath Shinde and (late) Ajit Pawar, will now be implemented from April 15.
Additional Chief Secretary (Urban Development) Aseem Gupta provided key guidance in its development, according to a release issued by the Brihanmumbai Municipal Corporation.
The online system will simplify TDR transactions by allowing registered users to list available development rights for sale, while buyers can place bids and negotiate before finalising deals.
Once a transaction is concluded, payments will be processed digitally, with the TDR credited to the buyer’s account and funds transferred to the seller.
A digital contract note generated post-transaction will serve as a legally valid record capturing all details between the parties. The platform also incorporates KYC-based account linking, secure banking integration with State Bank of India, and AI-based analytics to monitor transactions.
Explaining the concept, the civic body said when private land is acquired for public purposes such as roads, gardens or infrastructure projects, owners are compensated through Development Rights Certificates (DRCs), which can be used for development or sold in the market as TDR.
The BMC added that the system ensures end-to-end digital recording of transactions, reducing irregularities and ambiguities while improving trust among stakeholders. It integrates buyers, sellers and authorities on a single interface, enhancing coordination and operational efficiency, and also offers equal opportunities to small developers and individual participants.
Bhide said the initiative is expected to address longstanding issues, including delays, lack of transparency and difficulty in identifying buyers or sellers, thereby accelerating urban development and making governance more citizen-centric in Mumbai. PTI ND NSK
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