Panaji (Goa) It was in the monsoon session of the House that Town and Country Planning minister Vijai Sardesai announced about the TDR policy to happen in six months. But now he says that considering the sentiments of Real Estate industry, the policy would be delayed. The wait of for the March next year.

“We are slow pacing the work on conceptualizing the TDR policy due to introduction of RERA and GST. The economy has hit hard by these two blows. The implementation of TDR at this stage can effect entire economy,” Sardesai told reporters last evening in Panaji.

The minister said that the Real Estate industry has also faced a setback due to GST and RERA and it is coming to terms with it.  Ruling out the possibility of hastening with introduction of TDR, he said “I don’t want to shake up the industry with another regulatory mechanism.”

He stated that the government wants to give some time for the industry to settle down before introducing TDR concept.

Sardesai said that the State government will introduce TDR concept only after March next year when the GST and RERA effect would be absorbed by the real estate industry.

“There is absolutely no harm in waiting when we are planning to give something good for the state,” he said.

Manohar Parrikar-led government had announced the introduction of TDR concept in the land use policy which was expected to curb the increasing conversion of green lands for the construction activity. Those who want to retain their lands green would be benefitted with the concept as they would be able to sell their TDR to the builder for a cost hence discouraging them from selling away their land to make money.