Saturday, 30 May 2015

CAPITAL BOOM - 24-25L MORE HOUSES IN DELHI SOON!

The recent notification of the land-pooling policy is expected to unlock around 20,000-25,000 hectares across Delhi for development, which is likely to add 24-25 lakh new housing units in the national capital.

The Union urban development ministry notified operational guidelines for implementing the land-pooling policy on Tuesday, which will take the city a step closer to another housing boom, experts said.

The policy, drafted in 2013, will help Delhi Development Authority (DDA) obtain land for housing without getting mired in the lengthy land-acquisition process.

Although DDA hopes to implement the policy in the next two months, it will have to wait for the Delhi government to notify 95 villages as development areas.Before that, the government has to declare 89 of these villages as urbanized.

“The file in this regard is with the government. The lieutenant governor has asked it to expedite the process,“ a DDA official said. Most of the villages are in west, southwest, and north Delhi.

DDA officials say the policy will make it possible to build 24 25 lakh housing units. “DDA has not acquired any land in the city in the past decade due to the stringent provisions of the Land Acquisition Act. It is a time-consuming process. This policy helps us develop infrastructure with out acquiring land,“ Balvinder Kumar, vice-chairman of DDA, said.The policy favours those who provide DDA with larger land parcels. On contributing 2-20 hectares, the owners will be compensated with plots measuring 48% of the original land.

For 20 hectares or more, the compensatory plots will measure 60% of the original. Owners will be able to build residential, commercial, public, and semi public facilities on these alternative plots.

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