  Land, being a scarce and valuable resource, is in high demand, especially in
densely populated areas of older cities. Development authorities require land
for infrastructure projects and other amenities, while landowners hold onto
their land for both its usage and its financial value. Transferable Development
Rights (TDRs) serve as a mechanism to separate the development rights
associated with the land from the physical land itself. Development authorities
acquire the land by offering compensation in the form of TDRs, which hold
monetary value. In this paper, we present the tokenization of development
rights, focusing on the implementation in collaboration with a development
authority. While there have been previous implementations of land tokenization,
we believe our approach is the first to tokenize development rights
specifically. Our implementation addresses practical challenges related to
record-keeping, ground verification of land, and the unique identification of
stakeholders. We ensure the accurate evaluation of development rights by
incorporating publicly available circle rates, which consider the ground
development of the land and its surrounding areas.

Distributed, Parallel, and Cluster Computing;Cryptography and Security