| TAMIL NADU GOVERNMENT GAZETTE PUBLISHED BY AUTHORITY EXTRAORDINARY | ||
No. 394] CHENNAI, THURSDAY, SEPTEMBER 24, 2020 Purattasi 8, Saarvari, Thiruvalluvar Aandu–2051
Part III—Section 1(a)
General Statutory Rules, Notifications, Orders, Regulations, etc.,
issued by Secretariat Departments.
NOTIFICATIONS BY GOVERNMENT
HOUSING AND URBAN DEVELOPMENT DEPARTMENT
AMENDMENT TO THE TAMIL NADU TRANSFER OF DEVELOPMENT RIGHTS RULES, 2019 [G.O.Ms. No. 144, Housing and Urban Development [UD4(3)], 24th September 2020, புரட்டாசி 8, சார்வரி, திருவள்ளுவர் ஆண்டு&2051.]
No.SRO A-34(a)/2020.
In exercise of the powers conferred by clause (bb) of sub-section (2) of Section 122 read with clause (45-A) of Section 2 and section 35-A of the Tamil Nadu Town and Country Planning Act, 1971 (Tamil Nadu Act 35 of 1972), the Governor of Tamil Nadu hereby makes the following amendment to the Tamil Nadu Transfer of Development Rights Rules, 2019, namely :-
A(cid:3477)(cid:3469)(cid:3478)(cid:3468)(cid:3477)(cid:3469)(cid:3478)(cid:3484).
In the said Rules, after rule 10, the following rule shall be added, namely:-
"11. Savings.- (1) Development Right Certifi cates issued under the erstwhile Development Regulations for Chennai Metropolitan Area or the Tamil Nadu Combined Development and Building Rules, 2019 shall be deemed to have been issued under these Rules;
(2) The value of the Development Right Certifi cates in sub-rule(1) shall be calculated as per the formula hereunder, subject to the following conditions, namely:-
"Development Right Certificate Value = Floor Space Index credit x (1/Permissible Floor Space Index of
Generating site) x Guide Line Value of Utilizing Site
(a) The above value shall be applicable only for partially utilized or un-utilized Development Right Certifi cates;
(b) For utilization of Transfer of Development Rights, the Guide Line Value at the time of issue of the Development Right Certifi cate or at the time of utilization, whichever is higher, shall be applicable;
(c) The Development Right Certifi cate holders shall exercise option for utilizing the Development Right Certifi cate in terms of Floor Space Index credit or in terms of money value."
RAJESH LAKHONI, Principal Secretary to Government. PRINTED AND PUBLISHED BY THE COMMISSIONER OF STATIONERY AND PRINTING, CHENNAI ON BEHALF OF THE GOVERNMENT OF TAMIL NADU
III-1(a) Ex. (394)—1