Delhi Development Authorityby ATFL IN Real Estate
The Delhi Development Authority (DDA) is all set up to develop nearly 200 villages in the national capital under its land pooling policy. Regulations for operationalisation of the much-awaited policy, which will pave way for easier acquisition of land for housing projects. This will also help the development of farmhouses and country homes in those localities. The proposal also states that a land pooling cell will be created for the same which will be responsible for coordinating between the authority and private entities.
About 20,000-25,000 acres of land will be unlocked through 95 villages and it will take about 10 years to fully develop the land. The proposal would exclude areas falling under regional parks and green belt.Delhi address has a premium attached to it and once the supply starts coming into the market, there might a repercussion in the neighboring areas such as Gurgaon and Noida. The land prices mainly on the outskirts of Delhi went up by 2-3 times after the buzz of the DDA Land Pooling policy as well as one acre farmhouse policy. And the prices might go up again after the clarity on the policy front comes and there is a stamp of approval from the government.
But, Gurgaon is independent of Delhi now. And due to its proximity to airport and a corporate/IT hub, Gurgaon may not feel the impact of the new projects in Delhi. But a real impact can only be assessed after the actual supply comes into the market. Estimates suggest that the price of 1 acre of plot around Najafgarh increased to Rs 4-4.5 crore per acre from Rs 1-1.5 crore in just a year.
Created on Dec 31st 1969 19:00. Viewed 0 times.