have also come up but again no fresh permissions are being given, leading to overpriced stock. Other than DDA some key developers in the real estate have come up with their housing projects in Delhi under special schemes as seen in the table.
The other area being developed by private developers is Dwarka. This area has maximum number of multi-storey apartments and co-operative housing flats available. The most important factor in pumping the housing boom of Dwarka is Delhi Metro. There is also a diplomatic enclave which is proposed in Sectors 26, 27, 28 and 29 that will house embassies of at least 39 nations. This will also uplift the residential and commercial sector of the city. In this area, the housing apartments are available in the range of Rs 10,000Ė16,000 per sq ft.
One can only hope that good sense will prevail and government will announce the development policy soon, failing which Delhi may see another round of development of un-authorised colonies while suburbs continue to get out of reach of the common man.
ó The author is MD, Bajaj Capital. With inputs from Sunil Agarwal, principal advisor, Bajaj Capital Realty