Transferable Development Rights (TDRs) means a certificates issued in respect of category of land acquired for public purpose either by central or state government in consideration of surrender of land by the owner without monetary compensation, which are transferable in part or whole.
The Reserve Bank of India may, in consultation with the central government, specify:-
- any class or classes of capital account transactions which are permissible
- the limit up to which foreign exchange shall be admissible for such transactions.
Foreign Investment in India by Foreigner, Non-resident Indian (NRI) and Foreign institutional investor (FII) is prohibited in "Trading in Transferable Development Rights (TDRs)"
And also Indian parties are prohibited in for making an investment in foreign entity engaged in the business of real estate or Trading in Transferable Development Rights (TDRs) without prior approval of Reserve Bank of India.
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