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

HT Estates - - FRONT PAGE -

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

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