Transit-oriented development
Also called: TOD · Topic: Infrastructure: Transport, Communications and Energy · NCERT: Beyond NCERT
Meaning
Transit-oriented development (TOD) is a way of planning cities. Dense, mixed-use housing, offices and shops are built close to mass transit stations, and the area is made easy to walk. Under the National TOD Policy 2017, this zone is within about 500–800 m of a station. More people then use public transport. The rise in nearby land value can also help pay for the transit line through value capture financing.
Example
Around a new metro station, the city allows taller buildings with homes, offices and shops within walking distance. Residents walk to the station instead of driving. The city also collects charges on the higher land values to help fund the metro.
Don't confuse with
- Value capture financing (VCF): VCF is a funding tool that captures part of the rise in land values. TOD is the land-use plan that creates that rise and the extra riders.