Development If Delhi’s Real Estate Sector Via The Land Pooling Policyby Nitin Shukla SEO Analyst
The DDA under the Land Pooling Policy aims at bringing some changes in the real estate sector of Delhi. New zones are proposed to be built for providing the citizens with eth ease of accommodation and communication as well as prevention of land acquisition with the owner’s consent.
The Ministry of Urban Development has approved the Land Pooling Policy vide S.O.No- 2687E on September 5th, 2013. The sole aim of this project is to prevent the acquisition and the sale of land without the consent of the owner. Also the policy has brought into light some of the fundamental changes in the process involving land acquisition and development in capital city Delhi. The country is undergoing development in the real estate sector whereby when compared to states like West Bengal, Haryana, Andhra Pradesh and Noida, Delhi is found to be lagging behind to a certain extent. Along with the same, it is the intervention if the private sector that had made it next to impossible for those belonging to the lower middle class group to even dream of a modern lifestyle. Keeping the methodology of the private sector, the government came up with LLP.
What is LLP?
Under LPP, land owners will be able to surrender their plots into central pool for the readers’ benefits as well as to avoid any sort of technical problems). They will also become stakeholders to the proposed development of their land. Upon the completion of the pooling, the owner will be getting back around 40 % to 60% of the land that they had surrendered on the basis of “developable land”. The dispute on the acquisition of land will also be removed and this process seems to gain benefits to each of the land owners without taking into concern the measurement of their land. The rest of the land that DDA will be retaining would be put for developmental task. Till now, these two forms of pooling have been announced by the government:
>For those surrendering 2-20 hectares of land, 48% of the land that has been pooled will be returned.
>For those surrendering around 20 hectares of land and above- 60% of the land will be returned
Steps made by DDA
As per the proposal given, Delhi Development Authority (DDA) will be setting up a separate framework that will be consisting of DDA’ officials from the department of land management, accounts, legal, engineering and planning for ensuring successfully planning of the projects as well as its execution. All of the plans will be prepared as per the GIS technology. The MPD 2021 is looked upon as the largest real estate project to take place in the country for the welfare of the society. MPD (master plan of Delhi) is designed for accommodating around 10 million people that will lead to the creation of around 1.6 million units and it is the Land Pooling Policy that aims at meeting this rate by the implementation of innovative methods.
A brief on the zones- Why go for the L zone?
The zones however will possess some benefits in addition to one another. Compared to zones such as J, N, K1,K2, P1 and P2, L zone is reviewed to be enjoying higher benefits. This is mostly in terms of the location i.e. L zone will be enjoying proximity to IGT airport, the upcoming golf court, AIIMS II, Kundi-Manesar Palwal Expressway as well as the Diplomatic Enclave 2. Talking of the price range, the L zone will cost you somewhat between Rs 3.75 Crore to Rs 5 crore/acre whereas the other zones will come within Rs 2.5 to Rs 3.25/ acre. Hence, though you will be enjoying from your investment from any zones, it is mostly recommended to go with zone L.
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