Three main poli­cies un­der Mas­ter Plan Delhi 2021

HT Estates - - NEWS -

In Novem­ber last year, the Delhi De­vel­op­ment Au­thor­ity (DDA) passed the farm­houses/coun­try homes pol­icy. One part of the pol­icy deals with reg­u­lar­is­ing the ex­ist­ing farm­houses. Th­ese farm­houses, usu­ally of size 2.5 acre and above, are in the range of R15 to R20 crore per acre. Th­ese are lo­cated in zone J un­der the Mas­ter Plan 2021 that con­sists of ar­eas such as Neb Sarai, Mehrauli, Sat­bari and Ch­hat­tarpur — pri­mar­ily land be­tween NH8 and NH2, right from Ra­jokri and Chat­tarpur.

The ex­ist­ing vil­lages that al­ready have farm­houses would be de­vel­oped as low den­sity res­i­den­tial ar­eas of which the ex­ist­ing farm­houses would be reg­u­larised as coun­try homes sub­ject to the norms un­der the re­vised coun­try homes pol­icy.

This zone has ap­prox­i­mately 447 hectares or 5000 farm­houses. Farm­houses ex­ist­ing be­fore Fe­bru­ary 7, 2007, will be le­galised af­ter pay­ment of a penalty. There is a move by the South Delhi Mu­nic­i­pal Cor­po­ra­tion to reg­u­larise farm­houses by charg­ing their owners up to R5 crore.

How­ever, the aspiring pur­chasers are suit­ably ad­vised to ex­er­cise cau­tion while pur­chas­ing land which is ei­ther gov­erned by the stip­u­la­tion im­posed by the au­thor­ity aris­ing from the Supreme Court order or the land that falls un­der the re­gional park etc.

The sec­ond part of the farm­houses/coun­try homes pol­icy has to do with new li­censes that will be given in the green belt, un­der the coun­try homes pol­icy. Th­ese will have a higher FAR of 15 to 20 and will al­low for builtup space of 6000 sq ft to 8500 sq ft and will come up along ap­prox­i­mately 11,000 hectares. The web­site Delhi Farms es­ti­mates a po­ten­tial for ap­prox­i­mately 25,000 dwelling units along this green belt, rang­ing in size from 4000 to 8500 sq ft, de­pend­ing on the lo­ca­tion and the plot.

Th­ese land parcels are lo­cated in zone N and zone L of the new Mas­ter Plan, pri­mar­ily vir­gin land parcels. Zone N com­prises 19 vil­lages, out of which 10 acres come in the green belt spread over an area of 4305 hectares. Th­ese in­clude ar­eas such as Jounti, Nizam­pur and Qu­tub­garh. As many as 6000 to 7000 farm­houses can come up in this zone alone. The price of th­ese parcels is around R1.5 to R2 crore per acre. The area is likely to at­tract the trader com­mu­nity from west and north Delhi, say ex­perts.

Zone L con­sists of 58 vil­lages, out of which 21 are un­der the green belt spread over an area of 10322 hectares. Some of the vil­lages in this zone in­clude Ghu­men­hera, Kan­gan­heri and Jhatikara. The cost of th­ese farm­houses ranges from R2 crore to R4 crore per acre. This area may prove to be an at­trac­tive in­vest­ment des­ti­na­tion for the spillover in­vestor au­di­ence from south Delhi. Around 3000 to 4000 farm­houses can be ac­com­mo­dated in this area.

What will be its im­pact?

The one-acre farm­houses in ex­ist­ing zone J or the coun­try homes that may come up in zones N and L un­der Mas­ter Plan 2021, will largely im­pact the south Delhi builder floor mar­ket in­stead of the flour­ish­ing villa mar­ket in Delhi NCR.

The new farm­houses/coun­try homes pol­icy will al­low for larger homes (4000 to 8000 sq ft apart­ments as against 1100 sq ft units) to be built within the city lim­its. This is ex­pected to at­tract in­vestors who ear­lier bought apart­ments in posh Delhi colonies such as Vas­ant Vi­har or West End to go for farm­houses close to the city in­stead of vil­las in dis­tant lo­ca­tions. While a builder floor in Delhi costs any­thing be­tween R5 crore and R30 crore, a one-acre farm­house will cost any­thing from R10 crore to R50 crore per acre.

What is its sta­tus?

No­ti­fi­ca­tion is al­ready in the pub­lic do­main for ob­jec­tions and is likely to be­come a law within the first quar­ter.

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