Pool­ing with­out a cause?

HT Estates - - FRONT PAGE -

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

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.