UN­LOCK­ING DELHI’S LAND

HT Estates - - FRONT PAGE - 20,000 hectares 89 vil­lages. DDA 89 vil­lages th­ese vil­lages 60% of land to

six to eight years and this will meet the de­mand spelt out in the MPD 2021. The land pool­ing pol­icy will be a turn­ing point as far as hous­ing needs of Delhi are con­cerned,” says Balvin­der Ku­mar, vice chair­man, Delhi Devel­op­ment Author­ity.

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

The im­por­tant ques­tion, how­ever, is whether the new hous­ing ex­pected to come up in Delhi will im­pact the real es­tate mar­kets in Noida and Gur­gaon, which are al­ready reel­ing un­der the pres­sure of a huge sup­ply-de­mand gap? If yes, then what kind of dam­age is likely to be done?

Ac­cord­ing t o JLL I ndia Re­search, un­sold in­ven­tory as of March 31, 2015 in Noida is 1,07,000 units and that of Gur­gaon is 24,000 units. Un­til a few months, prices in NCR were gen­er­ally spec­u­la­tive and not aligned with de­mand and in­vestor ac­tiv­ity was huge. The im­me­di­ate im­pact of op­er­a­tional guide­lines get­ting no­ti­fied may not be much as con­struc­tion in Delhi’s new zones - J, K (I and II), L, N and P (I and II) - is yet to begin. But in­vestors in NCR will start to feel the heat once hous­ing stock takes shape in Delhi. The min­istry of ur­ban devel­op­ment has ap­proved reg­u­la­tions of the land pool­ing pol­icy in Delhi with five amend­ments this week Th­ese seek to un­lock around

of land through Most of the vil­lages are in west, south­west and north Delhi Although DDA hopes to im­ple­ment the pol­icy in the next two months, it will have to wait for the Delhi gov­ern­ment to no­tify as devel­op­ment ar­eas. Be­fore that, the gov­ern­ment has to de­clare as ur­banised This has to be done by the land and build­ing de­part­ments of Delhi gov­ern­ment. But con­sid­er­ing the bit­ter re­la­tion­ship be­tween the Cen­tre and the Delhi gov­ern­ment, this can be a chal­leng­ing task and may not be ac­com­plished within a month Once th­ese two tasks/no­ti­fi­ca­tions are in place, DDA will in­vite ap­pli­ca­tions from de­vel­op­ers to de­posit their land DDA will also have to divide land pool­ing zones into sec­tors. Each sec­tor will have to sur­ren­der

HT Es­tates has time and again pub­lished ar­ti­cles on Mas­ter Plan Delhi 2021 and the real es­tate op­por­tu­ni­ties in the new zones

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