TOD power: Hous­ing prices likely to be ra­tio­nalised

The TOD pol­icy em­pha­sises on af­ford­able and mid-seg­ment hous­ing. The ad­di­tional sup­ply cre­ated will go a long way in ra­tio­nal­is­ing real es­tate prices in the Cap­i­tal

HT Estates - - HTESTATES - Van­dana Ram­nani

TOD pol­icy is the move in the right di­rec­tion. It is ex­pected to ra­tio­nalise prices in the mar­ket by pro­vid­ing op­por­tu­ni­ties to peo­ple to stay close to the pub­lic trans­port sys­tem, lead­ing to de­con­ges­tion of cities.

The ad­di­tional FAR would al­low fur­ther ver­ti­cal growth with the cre­ation of more hous­ing units, thereby lead­ing to bet­ter land util­i­sa­tion. The manda- tory clause re­gard­ing util­i­sa­tion of FAR for res­i­den­tial pur­pose stresses on af­ford­able and mid­seg­ment hous­ing, which bodes well for th­ese seg­ments that are al­ready fac­ing a sup­ply short­age in cer­tain pock­ets. The low­er­ing of min­i­mum area re­quire­ment to one hectare in the in­flu­ence zone (com­pared to four hectare oth­er­wise) will also help bring in more ar­eas under the scheme. The ad­di­tional sup­ply could also help in ra­tio­nal­i­sa­tion of cap­i­tal val­ues in Delhi-NCR. How­ever, it is im­por­tant that the de­velop- ment author­ity si­mul­ta­ne­ously up­grade civic in­fra­struc­ture to en­sure in­te­grated de­vel­op­ment in the city,” says San­jay Dutt, executive managing director, South Asia, Cush­man and Wake­field.

I t will make i t eas­ier t o achieve the ob­jec­tive of Hous­ing for All, say real es­tate ex­perts, adding the fo­cus of the pol­icy is to en­hance both com­mer­cial and res­i­den­tial sup­ply in the city. This will by de­fault lead to in­creased stock and ra­tio­nal­i­sa­tion in prices.

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