Demand is project-led
Developers buy TDR when a plot can take more floor area than its base FAR allows. Demand is strongest where apartment and commercial projects are concentrated and road widths permit higher loading.
What decides price
- Where the certificate was generated and where it can be used
- How clean the issue record and title chain are
- The quantity available in a single certificate
- The cost of the alternative — Premium FAR — in that zone
Supply outlook
As more road and PRR land is surrendered, new certificates are entering the market. Verified, dispute-free certificates continue to move fastest, while files with gaps take longer to sell and usually at a discount.