Amendment status not verified — confirm the current text below against the official source.
The Authority may, with the con.sent of the owner. acquire land for public purposes, for providing jnfrastructure, amenities and facilities by way of according Transferable Development Rights through issue of Development Right Certificate in lieu of payment towards cost of land in such manner as may be prescribed: Provided that the Transferable Development Rights may be arrived at on the basis of relative land values and equivalent amount of both export and import areas as per the Registration Department records. Such Transferable Development Right may be utilized as addltional built space by the owner who can use this either by himself or transfer ft to any other person In full or In part for use in a Jess developed area as prescribed, or offset the money against the fees and charges payable for develorment permission or building sanCdon subject to fu'lfillment of all other rules and stand\ng orders governed for construction of buildings.