Pooling without a cause?
What is land pooling? Under the land pooling policy, minimum 60% of the land needs to be returned to DDA, which will then carve out the final plot either within the sector or in a ‘zone’ earmarked for the purpose in which the application for participation in the land pooling has been made. The final plot allotted to the developer may not be part of the original plot RERA and land pooling: At a time when the ministry of urban development has finalised the National Capital Territory of Delhi Real Estate (Regulation and Development) (General) Rules, 2016, for setting up of a real estate regulator, how will these societies provide an authenticated copy of the title deed reflecting the title to the land on which the development of the project is proposed? Status so far: It is over a year since the urban development ministry notified the land pooling policy for the Capital. It is now awaiting clearance from the AAP-led Delhi government. As many as ₹ 1,000 crore have been collected from investors and buyers through housing societies in the hope that around 25 lakh affordable homes will be constructed within Delhi itself Total investments: Investments worth ₹ 35,000 crore have already been pumped by individuals or through housing societies which number around 40 in all the zones P1 and P2, L and N that support residential development. Buyers have paid at least ₹ 12 lakh for the land cost on an average The challenges: Land pooling policy has two main impediments. The Delhi government has to declare 89 villages as urban villages and 95 villages as development areas. Also, under the amendment of the Delhi Land Reforms Act 1954 Section 33 prohibits fragmentation of land to land holders and Section 81 forbids non-agricultural use of land