A drop in the ocean

HT Estates - - FRONT PAGE -

De­mand out­strips sup­ply The re­quire­ment of 16 lakh units for Delhi, as per Delhi’s Master Plan 2021, seems to be quite a task given that DDA has cre­ated just five lakh units (ap­prox) since its in­cep­tion. Both NBCC and DMRC can add a few thou­sand units, but th­ese are not likely to be af­ford­able

NBCC: NBCC is cur­rently work­ing on projects in Karkar­dooma and San­jay Jheel for DDA. This month the Cab­i­net ap­proved the re­de­vel­op­ment of seven Gen­eral Pool Res­i­den­tial Ac­com­mo­da­tion (GPRA) colonies of which NBCC will re­de­velop Saro­jini Na­gar, Ne­taji Na­gar and Nau­roji Na­gar

The NBCC model: The NBCC model of hous­ing is largely re­de­vel­op­ment. Rev­enues gen­er­ated by sell­ing com­mer­cial space in the Ne­taji Na­gar, Saro­jini Na­gar and Nau­roji Na­gar re­de­vel­op­ment pro­ject will be utilised for con­struc­tion

DMRC: The agency has re­cently iden­ti­fied two plots near the Metro sta­tions in Okhla and Janakpuri where it plans to con­struct 93 and 350 units, re­spec­tively. The 2BHK and 3BHK units will be sold at the mar­ket price of ₹ 80 lakh to ₹ 1 crore and will be al­lot­ted through a draw of lots

The way for­ward: Ex­perts say that de­pen­dence on gov­ern­ment agen­cies for cre­ation of hous­ing sup­ply to meet the sup­ply-de­mand gap is not the so­lu­tion. The land pool­ing pol­icy has to be fast tracked. Stock can be cre­ated through in­cen­tivised re­de­vel­op­ment and par­tic­i­pa­tion of gov­ern­ment agen­cies through mon­eti­sa­tion of land as­sets

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