DDA asks buyers to beware of land pooling zone offers
Despite warnings, people are buying apartments being sold as lucrative investment options, writes Jeevan Prakash Sharma
Check that advertisement for that beautiful apartment being sold for a great price, and that too in the Capital. Do find out more about the zone it is located in and then check the Delhi Master Plan 2021. If your builder tells you the project is in the land pooling zone, and that you can make a good profit from it, understand that you might end up being a victim of fraud.
If one goes by the recent public notices of Delhi D e v e l o p m e n t Au t h o r i t y (DDA), such offers are illegal and homebuyers are advised to stay away from them.
A builder recently announced the launch of a project in L- Zone, Dwarka. Newspaper advertisements of the projects also offered a buyback policy with 25% interest in two years. L-Zone falls in the land pooling zone, but DDA has just prepared the draft regulation of the land pooling policy and it is yet to be notified – no developer can as of now own land in this zone.
A number of public notices have been i ssued by DDA, warning people to stay away from “any illegal offer of registration of plots/flats under the land pooling policy”.
“T he g e neral public i s hereby cautioned that for any sector within a zone (specific area) to qualify under land pooling policy, minimum 60% land needs to be made available by the developers. Besides, the final plot shall be carved out either within the sector or nearby in the concerned zone in which the application for participation in the land pooling has been made. The final plot allotted to the developer entity may not constitute part of the original plot. Therefore, the claim of coverage of a specific area under the scheme or availability of land in a specific location by developers cannot be made at this stage. The general public is, therefore, warned not to get tempted by such attractive offers/schemes for housing under land pooling policy,” says the DDA notice.
Dozens of developers, however, are putting up stalls to sell projects. Several welfare societies have also come up, inviting potential buyers to invest in land. HT Estates, on October 18, 2014, had reported how hundreds of welfare societies had been registered after 2007 when the Delhi Master Plan (MPD 2021) had been notified, laying down land pooling policy norms and earmarking five zones in the Capital – J, K (I&II), L, N and p (I&II).
Though the Urban Development Ministry has given its nod to operational guidelines for the land pooling policy, several hurdles still remain in its implementation. The most difficult hurdle at the moment seems to be the conversion of 89 revenue villages into urban villages. The next hurdle will be identifying and demarcating 20,000 hectares for development, which will be done by the land and building department of the Delhi