MUMBAI: BMC in collaboration with the state urban development department, will roll out the country’s first integrated electronic platform for trading Transferable Development Rights (TDR) from April 15.The e-TDR system, which will be fully operational from Wednesday, is expected to streamline transactions related to TDR as well as those involving reserved land parcels and Floor Space Index (FSI). Civic officials said registration on the portal will be mandatory for both buyers and sellers.TDR is typically granted to landowners whose plots are acquired for public purposes such as roads, gardens or infrastructure projects. Instead of monetary compensation, owners receive development rights in the form of a Development Rights Certificate (DRC), which can either be used for their own projects or sold in the open market.With the new system, registered users will be able to list TDR for sale and participate in bidding through a digital interface. While bidding will determine initial pricing, officials said negotiations between buyers and sellers will still be permitted before finalising deals. Once confirmed, transactions will be completed through digital payments, with TDR credits transferred to the buyer and payments released to the seller.A senior civic official said the platform will generate a digital contract note for every transaction, ensuring a legally valid and traceable record. The system will also feature KYC-based registration, secure banking integration and AI-enabled analytics to monitor transaction trends.“The e-TDR platform will bring in much-needed transparency, reduce delays and make the process more accessible, especially for smaller developers,” said municipal commissioner Ashwini Bhide, adding that the BMC has acted as the nodal agency for the initiative.Officials said the system was piloted earlier and is now being rolled out at full scale following guidance from the state urban development department.Civic authorities believe the platform will address longstanding issues in the TDR market, including lack of transparency and difficulty in matching buyers with sellers. By digitising the process and creating a unified marketplace, the BMC expects to improve efficiency and accelerate infrastructure and real estate development across the city.The move is also expected to make the TDR market more inclusive by allowing individual stakeholders and smaller developers to participate on an equal footing with larger players, said the civic authorities.
