AMC Revolutionizes TDR Management with Blockchain Technology, ET RealEstate
AHMEDABAD: The civic body is set to overhaul the way it manages transferable development rights (TDR) by adopting blockchain technology. Traditionally, the AMC has relied on manual processes, including the issuance of development rights certificates (DRCs), approval of transfer forms, and the physical debiting and crediting of TDR. However, the manual system was prone to errors and fraud, senior Ahmedabad Municipal Corporation (AMC) officials said.
TDR enables a property owner to transfer development potential calculated in FSI and square metres between plots in different areas of the city.
AMC is not stopping at TDR management alone. Once implemented successfully, the civic body has also planned the use of blockchain for the issuance of birth, death and marriage certificates, shop licences, disability certificates, tax receipts and fire NOCs.
The system will digitize TDR parcels on the blockchain — which mainly takes place in four categories namely slum redevelopment projects, heritage, public housing and road widening — enabling seamless debits and credits during creation, transfer and consumption events.
“A key benefit is automation. Smart contracts will be used to automatically issue TDR certificates, record each issuance on the blockchain and transfer TDR between parties in a secure and transparent manner. With blockchain, every TDR transaction is immutable, meaning it cannot be altered once it is recorded. This reduces fraud or manipulation,” a senior official said. The system will automate TDR issuance, recording each transaction on an immutable blockchain ledger.
“A blockchain-based TDR marketplace will cater to a wide range of stakeholders. Developers looking to acquire TDR for large real estate projects, property owners interested in selling excess development rights, real estate agents brokering deals, and even urban planners will benefit from this platform,” the senior AMC official said. The verification system will authenticate the validity of TDR certificates.
Also, the TDR marketplace’s digital dashboard will be supported by a document management system (DMS), which digitizes and securely stores relevant documents.
“An optical character Recognition (OCR) technology will be used to convert physical records into searchable digital formats, while e-signature integration will facilitate the approval of TDR documents,” the AMC official said.
“The TDR transfer process will maintain an audit trail. The system will also offer a public verification portal for TDR certificates with AMC administrators using a dashboard to monitor real-time transactions and data analytics,” he added.
