AHMEDABAD: The civic body had earlier in 2024 approved a plan to transform Ahmedabad into a Net Zero City by 2070.
To achieve this goal, a Net Zero Fund to finance various projects, including those to reduce air pollution, was to be set up.
The Ahmedabad Municipal Corporation (AMC) had decided to bring contributions to this fund by auctioning unutilised floor space index (FSI) to builders as transferable development rights (TDR). However, this TDR policy, submitted by AMC to the state govt for approval in July 2024, is yet to get a go-ahead, sources said.
The municipal corporation had planned to channel proceeds from the TDR auctions — estimated to be close to Rs 1,000 crore annually — into the Net Zero Fund for lake conservation, urban forests, clean air projects, and other net zero initiatives over three years. Once approved, the policy can help AMC in raising the funds by attracting interest from various bidders.
AMC sources said that developers currently receive TDR for slum redevelopment projects, and that there is currently a shortage of TDR. The civic body drafts town planning schemes, reserving 40% of the land for public purposes, including social infrastructure like water tanks and pumping stations.
The unused FSI from these plots had been planned for auction as TDR. It was announced that a committee chaired by the commissioner will oversee the TDR-FSI auctions, in a first such experiment in the country.
In non-TP areas, 40% of the original plot is reserved for roads and public purposes. There is high demand for TDR-FSI in Ahmedabad, with builders buying it at two to three times the base price.
