The much awaited land pooling policy has been declared in Delhi and thus the real estate arena will never be the same again. The game changing policy is rightly expected to unlock and unleash a whopping 20-25 thousand hectares of land for development of state of the art homes. Therefore the shortage of housing in Delhi will be tackled to a great extent along with keeping the skyrocketing prices of residential living spaces in check and rightly so.
Urban development authority had approved the land pooling policy on 27-5-2015. Thus naturally, real estate buyers and developers are an extremely happy lot. Now the real estate potential of Delhi can actually be utilized and unleashed. The urban boundaries of Delhi are all set to rapidly expand as well as a result of the land pooling policy. This expansion will compliment the growth and development taking place in other cities of the national capital region. The existing wide gap in Delhi’s demand and supply of affordable housing in Delhi will also be bridged to a large extent.
CREDAI which is the apex body of real estate developers has hailed and lauded this move by the government. Not only will the land pooling policy bring about a humungous infrastructure development in peripheral and remote areas of Delhi, but might also forge a potential housing boom for the national capital of Delhi and its esteemed residents, including real estate investors who are seeking affordable housing options and projects in Delhi.
The dynamic DDA Delhi Development Authority had earlier given its nod to the land pooling policy in the year 2013. The new cutting edge policy will allow owners of land to strategically pool their land for the purpose development by DDA. Land-owners will get a few part of land post the development of infrastructure by DDA. They will be able to keep this allotted land for themselves or hand it over to private developers.
The idea and intention behind the land pooling policy is to foster participation of private sector in consolidation and development of land while the DDA will assume a greater role as a facilitator of sorts. This policy is most likely to lead to development of residential realty projects across the national capital city, which has a severe shortage of affordable housing and where most of the housing needs are catered to by the Delhi Development Authority.
And with this and a plethora of other key game changing initiatives and decisions like this, the once struggling realty arena of NCR is back on track. So explore the region of Delhi-NCR today as your dream home or high ROI yielding real estate investment might very well be merely a few minutes away.