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
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.