In a move that will relieve thousands of shopkeepers running their businesses from upper floors of buildings meant for residential purposes, the Delhi Development Authority has rationalised conversion charges of residential to commercial. The DDA board also gave the nod for building transit-oriented development (TOD) corridors in the Capital.
The DDA on Monday announced that shopkeepers in about 80 market places across the city, including prominent markets such as Hauz Khas, Green Park Extension, South Extension, Sarojini Nagar and Khan Market, will have to pay only 25% of the conversion rates to get commercial status for their premises.
DDA officials said a part of money collected from property conversion will be transferred to the three municipal corporations.
“The conversion charges were earlier fixed at ` 89094 per square metre, which property-owners found too expensive. Since the response to the conversion scheme was extremely poor, the DDA decided to relook conversion rates. After much deliberation it has now been reduced to ` 22274 per square metre for built up area,” an official said.
The board said TOD corridors will change the overall planning and development of the city. The TOD will see residences, business districts and entertainment centres coming up in the radius of 500 metres of MRTS corridors.
The first TOD will be developed in Karkardooma in east Delhi. The DDA will soon sign a memorandum of understanding with National Building Construction Corporation to develop the corridor.
“The TOD will reduce travel demand and reduce pressure on road-based travel,” a senior DDA official said.
“It will also reduce dependence on private transport and will reduce pedestrian movement. It will also encourage sharing of public places, will develop green, and will promote recreational facilities. As travelling will be reduced it will help making movement for women and children safer,” the official added.
DDA officials added that allowing mixed land uses of all properties will reduce car dependency and reduce congestion on roads. It will also allow greater flexibility to adapt to local context and market-based needs.
The DDA Board also gave its approval to 9,000 crore budget for the financial year of 2015-16.
The DDA will spend this money on infrastructure development including 10 housing schemes, construction of 13 Masterplan Roads, and four flyovers.