Transferable Development Right subdivision (Rural)
A Transferable Development Right (TDR) subdivision is a method of subdivision where you transfer an entitlement from one property to another, whether in common ownership or not, and create an additional title. The purpose is to remove titles from sensitive locations and create them in less sensitive locations. Donor entitlements come from amalgamating existing titles, 40ha subdivision entitlements, and Environmental Benefit lots.
The entitlements can be transferred to less sensitive areas, and often to properties where subdivision would not otherwise be possible. You can only create one additional TDR lot per title and a consent notice is registered on your title to record the use. A bond is registered on the donor property so the entitlement can only be ‘spent’ once, and the remaining entitlements are recorded.
The National Policy Statement for Highly Productive Land (NPS-HPL) also controls the location and the use of this rule when part of the property contains highly productive land (i.e Class 1 to 3) and is in the Rural Zone. The NPS-HPL requires any subdivision to avoid a loss of highly productive land, which may mean there is a limitation on how the subdivision can occur. Cogswell staff can advise further on the use of these entitlements.
Contact Cogswell direct to obtain more information on the costs and the timeframe to complete the subdivision.