Major Property this week talks about the DDA’s (Delhi Development Authority) notification of a latest policy on farm houses. The minimum qualification for an area to be called a farmhouse has been decreased from 2.5 acre to just one acre.
The Delhi government has clearly notified a latest policy for farmhouses. The minimum area to meet the criteria for a farmhouse or a country home has been reduced from 2.5 acres to just 1 acre plots.
The Delhi Development Authority (DDA) has also permitted a higher floor area ratio (FAR) by permitting a built-up area of approximately 10,000 square feet. The expectation is to have farms in the marketplace for around Rs 10 crore.
• There is a well-built buzz of DDA relaxing rules even further. It is looking at the likelihood of allowing four kitchens in these one acre farmhouse or country homes.
• This in fact means four independent houses spread cumulatively across 10,000 square feet on a 1 Acre Farm House. These four units can share general spaces like the swimming pools.
• Costs of farms near the Delhi Metro have respected even more and that is because the DDA is concurrently looking at increasing the FAR along the metro lines by almost 50 percent.
• The DDA is also under stress to allow these legal and affordable farmhouses in a bigger green belt covering extra villages.
• This is due to a lot of land buyers getting a rude shock when DDA’s notification allowed the one-acre farmhouses in 26 villages as well as not 32 as had been expected earlier.
• The land cost started skyrocketing three years ago in expectation of this DDA LDRA Policy. Local real estate builders started buying land in villages about the cities farmhouses leading to a price appreciation of above 100 percent.