India is evolving quickly, experiencing a tremendous economic expansion, and will soon become a powerhouse. What I have realised as an architect is that to promote government independence, rules, and regulations, infrastructure development must be encouraged by deliberate policy. Excellent chances with investment plans are available in the infrastructure sectors right now. But what the general public needs to understand is
DRC in construction. But to be able to comprehend that correctly, I will tell you about the
Transfer of Development Rights (TDR) which can be used to increase the efficiency and sustainability of land use in relation to the construction of infrastructure.
Opt for NoBroker’s legal services for authentic property document scrutiny and verification.What are Transfer of Development Rights?
The Government of India defines the transfer of development rights as a development right that entails transferring the potential of a plot assigned for a public benefit in a plan, articulated in terms of total permissible built space. It is estimated using the Floor Space Index or Floor Area Ratio permissible for that plot, for use by the owner himself or by the manner of transfer by him to another party.
In order to use the additional built-up area himself or transfer it to another party in exchange for additional funds released by ULBs (Urban Local Bodies), the landowner must exchange a specific amount of additional built-up area for a surrendered area known as a transfer of development rights (TDR). The building is governed by the ordinances or as a certificate with TDR rules periodically developed by the state government. In other words, TDR makes it possible for developers to shift as a whole or partially, from one plot to another. A TDR certificate will be issued in exchange for the land given up by the owner or private developer free of all restrictions and using incentives made public by the state government.
What is DRC in construction?
Now that you know about TDR, I will tell you about DRC. DRC full form in construction is Development Rights Certificate.
A certificate against the allocation of land for infrastructure development in the public interest is known as a "development rights certificate" and is issued by the appropriate government official. This type of certificate is given to the property owner who wishes to sell the rights and buy them according to the floor space index. The documents required to obtain a DRC are
Application for a certificate of development rights.
Form submitted with the application for a certificate of development rights.
Form of the certificate that the licenced surveyor or architect must sign.
Report on Owner’s Compliance.
This is
what is DRC in construction in detail. I hope it turns out to be useful to you.
Read More: What Is TDR In Real Estate? TDR in Construction: Meaning, Full Form and Purpose?Shifting, House?
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What is DRC in Construction?
Tanu
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1 Year
2022-11-29T11:57:33+00:00 2022-11-29T11:57:34+00:00Comment
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