The following actions shall be taken for the Development Right Certificate issued prior to the commencement of the Karnataka Town and Country Planning (Amendment) Act, 2015, namely:-
(a) The Planning Authority shall collect all the details of Development Right Certificates issued, transferred and utilized within its jurisdiction, from the Local Authorities which have issued, transferred and utilized Development Right Certificates and after verifying the veracity of those certificates enter in separate register in Form XI maintained for this purpose.
(b) The development right certificates issued prior to the KTCP(Amendment) Act, 2015 shall be utilized under the existing rules as per the calculation illustrated as below;
DRC utilization @ receiving plot = Extent of existing TDR (in FAR) X Market Value of originating plot at the time of approval of the plan for utilization of Transferrable Development Rights X FAR of receivin g plot Market value of receiving plot at the time of approval of the plan for utilization of Transferrable Development Rights