Once the villages, declared "urbanised" on May 16, are notified as "development areas", the DDA and the Delhi government will be able to carry out infrastructure projects there. While 89 villages were notified as urbanised on Tuesday, six other urbanised villages (from previous notifications), will also be notified as development areas.
Research and Real Estate Intelligence Service, JLL India, "the policy still remains a novel idea aimed to solve the issues faced in acquiring land due to fragmented land holdings and higher compensation payable in the wake of increased land valuations".
Paving the way for affordable housing, the Delhi government is going to declare 95 villages as "Development Area", allowing the DDA to implement land pooling policy there, Delhi Urban Development Minister Satyendar Jain said on Thursday. "Once notified the DDA can start implementation of the land pooling policy", Jain said.
Under the DDA Land Pooling Policy (LPP), residents of urban villages can pool their land and hand it over to the DDA for construction of basic infrastructure like roads.
Jain said the disagreements on the policy between the government and DDA had been resolved.
The main feature of the policy, according to Mr Jain, is that housing projects could be developed by builders on the returned agricultural land of farmers.
Basket: Fenerbahçe rejoint l'Olympiakos en finale de l'Euroligue
En face, Ekpe Udoh a fait des ravages à l'intérieur avec 18 points, 12 points et 8 passes. Les Turcs ont fait la course en tête durant 40 minutes.
The Development Companies shall have to compulsorily construct houses for the EWS (Economically Weaker Sections), which will amount to 15% of the FAR over and above the permissible FAR of 400. As per the Master Plan of Delhi (MPD) 2021, based on a projected population of 230 lakh by 2021, Delhi would require about 24 lakh new dwelling units.
"It would fill up Delhi's infrastructural deficit that has led to cropping up of unauthorised colonies".
"Not only this, the DDA has also agreed to give the land for hospitals and schools to the Delhi government free of cost", Jain said, while explaining the use of development areas. "The notification comes due to direct cognisance taken by the Delhi L-G", Gupta said.
With the help of better infrastructure and readily available public amenities, the land pooled by the owners sees a substantial increase in its price after a few years of development. On contributing 2-20 hectares to the land pool, the developer entity will be compensated with plots measuring 48% of the original.
This policy has the potential to change the dynamics of the residential market in NCR by boosting the supply of affordably priced apartment units within the geography of Delhi City.
- Brokers Change Their Target Price On Everest Re Group, Ltd. (NYSE:RE)
- Eagle Bancorp, Inc. (EGBN) Lifted to Buy at Zacks Investment Research
- Agreement allows police in Vancouver Pride parade, but changes will be made
- Lawmakers unanimously approve autism coverage mandate
- Amazon Echo Show is the New Touchscreen Echo Device, Priced at $230
- Des skins pour fêter l'anniversaire du jeu — Overwatch
- Apple May Announce New MacBook Models at WWDC 2017
- What post did Always Dreaming draw? 5/17/17
- US Inks China Trade Deal Promoting Finance Services, Beef
- ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Under Analyst Spotlight