Delhi: Turning unaffordable, but hopes high
Master Plan 2021 has an enabling provision of private participation for development. This includes areas in the green belt, existing unauthorised colonies and various farmhouse developments in South Delhi. If development policy is announced by the government, new supply can be expected at Rs 5,500 – 6,500 per sq ft in new development zones. Development policy is expected to comprise three new policies which are farmhouse / country homes policy, land pooling policy and increased floor area ratio (FAR) policy.
Farmhouse Policy: The farmhouses which exist before February 2007 in Zone J and having area of 2.5 acre or above will be legalised after payment of a penalty. The other part of this policy states giving new licence in green belt for farmhouses which will have FAR of 15 to 20 for a one acre of plot.
Land Pooling Policy: This policy in new zones will bring up large contiguous parcels with infrastructure facilities by development authorities where group housing would be allowed.
Increased FAR Policy: There is also a say on increase of FAR of 400 to 600 in the Zones L, M and N.
There is a wave of builder floors happening in entire north and south Delhi. The fascination for exclusive addresses is the driving force behind these areas. Some of the areas where such activity is taking place are: Rohini, Punjabi
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