The Union urban development ministry has recently approved the regulation for Land Pooling policy in Delhi. It is expected that the decision will help in unlocking almost 20,000-25,000 hectares of land for infrastructure development, bringing a much-needed boost to the housing supply in the national capital.
The policy was cleared by the Delhi Development Authority (DDA) in 2013 and was pending for approval from the Central Government. The new policy allows land-owners to pool their land for development by DDA and get some portion of the developed land thereafter. The approval to the pooling policy will boost the construction of affordable residential projects in Delhi NCR.
Delhi's Land Pool Policy will significantly boost properties in areas concentrated across peripheral zones in Delhi. The policy gives way to the infrastructure development and helps in reducing the housing gap in the city, especially in the affordable segment.
The government's move is welcomed by many Realtors' body, including CREDAI-NCR.
Mr. Anil Mithas, Chairman & Managing Director at Unnati Fortune Group, a leading real estate company in Delhi NCR, says, “The government's notification for the approval of Land Pooling Policy will open up a new property market in the national capital region. The move will boost affordable housing and attract maximum people to invest in the real estate properties in Delhi NCR.”
The policy was cleared by the Delhi Development Authority (DDA) in 2013 and was pending for approval from the Central Government. The new policy allows land-owners to pool their land for development by DDA and get some portion of the developed land thereafter. The approval to the pooling policy will boost the construction of affordable residential projects in Delhi NCR.
Delhi's Land Pool Policy will significantly boost properties in areas concentrated across peripheral zones in Delhi. The policy gives way to the infrastructure development and helps in reducing the housing gap in the city, especially in the affordable segment.
The government's move is welcomed by many Realtors' body, including CREDAI-NCR.
Mr. Anil Mithas, Chairman & Managing Director at Unnati Fortune Group, a leading real estate company in Delhi NCR, says, “The government's notification for the approval of Land Pooling Policy will open up a new property market in the national capital region. The move will boost affordable housing and attract maximum people to invest in the real estate properties in Delhi NCR.”