With the Delhi Development Authority (DDA) giving its nod for construction of ‘country homes’ in 27 villages in the Capital, land prices are expected to shoot up nearly 30 per cent. The authority took the decision after it identified these villages as ‘low density residential area’ and considered plans for developing them.
“In north Delhi, the rate might see a hike of around 30 per cent, whereas in south it may go up by only 15 per cent. The rate in south may not see a steep rise as its rate currently has reached a saturation point,” said Tajinder Singh lamba, owner of Best Home Real Estate. While the current rate of an acre of land in north ranges anywhere between Rs 1.5 crore to Rs 3 crore, the price in south on the other hand varies from Rs 2.5 crore to 6 crore depending on the location.
land prices in these 27 villages had already increased by 25 per cent due to DDA’s proposal to reduce the minimum land area from 2.5 acres to 1 acre for the constructing of farmhouses. Along with that, the authority had already increased the Floor Area Ratio (FAR) of farmhouses. But with its latest proposal of declaring these areas as ‘development area’, the price is set to reach sky high.
“Formal notification of this will be given out by the Urban Development ministry. The regularisation will take place only after that,” said DDA spokesperson Neemo Dhar. A few areas which come under the authority’s proposal are Mehrauli, Bijwasan, Chhatarpur, Ghitorni, Bamnoli, Fatehpur and Khanpur.
However, a few realtors believe that this plan won’t affect the prices of land because of public-private partnership of the Government. “The prices of land in these villages, situated on the periphery of the Capital, have already observed a steep increase. Moreover, while 60 per cent of the stake is on the builders, 40 per cent is that of the Government which provides services like sewer lines and electricity. So, there may not be much profit in the rate of farmhouse,” said Ashok Chand, a realty developer.
“We have declared 27 villages as ‘development area’ so that we can ensure integrated development of urbanisable area as stated in the Master Plan Delhi (MPD) — 2021 under the new land pooling policy. This will also help the development of farmhouses and country homes in those localities,” said a DDA official. The authority gave its approval for the same in its board meeting held on Wednesday.
The authority maintained that the proposal would exclude the areas falling under regional park and green belt. Also the jurisdiction of identified unauthorised colonies, which are being regularised by Delhi Government and development of village abadi areas, shall be only as per village development plan.
Meanwhile, the revenue earned from regularisation charges from existing farmhouses will be shared by the DDA and municipal corporations as per the modalities decided by the central Government. In the meeting, around 25 modifications, mentioned in the under review MPD 2021, were approved and sent to the urban ministry for final notification of the same.
These include policies for multi-disciplinary clinics for persons with learning disability, motels, temporary cinemas, public private partnership in land assembly development and legislation of godowns in non-conforming areas. While policies such as motels and farmhouses have already been notified, others are in the process of finalization. The chapter on environment in the MPD-2021 is being redrafted and a new chapter on transit-oriented development has been added.
lANDED WITH A BOON
Areas under DDA proposal: Sayurpur, Satbari, Chhatarpur, Khanpur, Devli, Bhatti, Fatehpur Beri, Asola, Jounapur, Chandan Hula, Gadaipur, Sultanpur, Mehrauli, Ghitorni, Rangpuri, Chhawala, Pindwalan Khurd, Rewla Khanpur, Paprawat, Ghuman Hera, Jhatikara, Kanganheri, Holambi Khurd, Bakoli, Bakhtawar Pur and Hiranki, Kapasheda, Dhansa, Bamnauli, Bijwasan, Tugalakabad and Daulatpur.