Currently, there are some effective changes introduced into Land pooling policy. It is the great opportunity for the DDA (Delhi Development Authority’s) to make everything positive. Of course, it is the effective plan developed for affordable housing schemes at pleasing rates. The experts continuously enhance land pooling policy even every modification proposed under Master Plan of Delhi 2021 (MPD 2021) these projects will be completed in the upcoming year.
In general, MPD 2021 was developed and officially notified in February 2007. The housing units are also available in Delhi till 2020. The complete urbanization of Delhi process also covered under the earlier master plans. In that case, DDA used to acquire large land masses and also taking decades. It is the first 100% urbanized state. However, the land pooling policy and related terms were notified by the government in the year of 2013, this policy includes the private sector of urban development; even it combines both aggregations of scattered land holdings, strategic planning, and development.
Most importantly, this plans developed to offer affordable housing units to the middle-class people. Delhi Development Authority was the sole landowner, seller, auctioneer, planner, developer, partook. Under the land pooling policy Delhi Development Authority would cease to be a land aggregator come, developer. During this process, the experts also take care of different things. Most importantly, consolidation of land is one of the biggest challenges. Even most development agencies also experience a lot of complications while doing this process. Both government and private agencies also involved in the process. The urban design will be taken based on some factors. The best examples include popular cities in Delhi NCR such as
In this area, the government declared the sector boundaries under the master plan. Of course, the infrastructure yet to be laid owing to land acquisition issues. However, the dwelling units are also ready for occupation but the roads between sectors and other areas still haven’t been developed.
Here the gridline infrastructure could be planned, as well as the township, commercial and the residential towers were created subsequently. Overall, it is the time-bound development, in the case of Delhi development; multiple agencies would be involved and also provides different services including arterial roads, water, trunk roads, sewage water treatment plants, power lines and many more. The experienced and organized Developer Entity (DE) invests time, money, effort to decide which sector would be perfect for the development. Usually, the development plans haven’t been released as well as published officially to facilitate decision-making related to different aspects.
The main aim of the land pooling policy is to offer ultimate benefits to the people. in addition to this, it is also considered as the best opportunity for Delhi Development Authority to overcome different complications and errors involved in the past projects. Delhi is the modern capital and it is also considered as the third-largest economy in the world so most people prefer to buy residential units in Delhi to enjoy a modern lifestyle.
The land pooling policy and related terms are also executed with vast responsibility. Even aggregating land from the owners, service infrastructure, investing capital for approvals etc. to overcome complications, Delhi Development Authority also focus on some important terms. Usually, most landowners are circumspect; many people also think is any trusted, reputed, capable agency that would handhold both sides.
Delhi is the popular place and also suffering on account of multiple agencies as well as providing services. For this, almost every landowner rightfully fears about different policy development with DDA. Normally DDA failed to provide developed projects in a time-bound manner, thereby delaying the development as well as opportunity to monetize land assets.
The MPD 2021 will be eliminated every complication and might be the largest investment choice for the Delhi Development Authority to correct their mistakes. Overall, it is the best opportunity in India for attracting a large group of people. However the re-allotment against the surrendered land would be low this approach also lies on the Public-Private-Policy-Partnership. In the policy document, the Delhi Development Authority also introduced some factors and it has specified land abutting sector roads that would be chosen for licensing. The internal research with some leading investors also states that the following factors will influence decision making that includes.
- Risk and uncertainty about the outcome
- Stability in criterion
- Stability in Policymaking and implementation
- Investment horizon
- Expected return
- History of market trend
- External factors
- Inflation and taxes
- Forecasting Risk
- Socioeconomic political conditions
- Information in public domain
- Information on the education of landowners
FAR (Floor Area Ratio) also perfectly matches the surrounding markets; of course, it is the perfect choice for the people with a middle-class background. This will not exceed when compared to any other markets in NCR. So it will be the great investment choice for the people with the different financial background.
Of course, the Prime Ministers main aim and vision is to offer best housing solutions at pleasing rates. Even he put effort to take our nation into the forward direction. The main aim of the development is to offer modern homes for the people which mean affordable homes available for all segments of the society. The FAR numbers are unviable for development at the different price points. Now it is also lying on the real demand.
On the whole, MPD 2021 could be the best choice and become a popular option among the people. In Delhi many projects developed under the plan. On the other hand, Ministry of Urban Development, as well as stakeholders, also maintains a partnership to offer perfect solutions under different categories. The urban design as well as development for the future it is completely subject to DDA. The land development is also shared based on the pre-agreed manner.