Redevelopment of old societies in Delhi to open up vast opportunities

Updated: Aug 24, 2020 1:45 PM

Delhi has many societies, which are several decades old and are in a dilapidated state, requiring urgent redevelopment at the earliest.

real estate, Redevelopment, Redevelopment of old societies, Delhi, NCR cities, Gurugram, Noida, Mumbai, the Ministry of Housing and Urban Affairs , re-development policyA policy formulated by the Government will help in building trust amongst all the stakeholders.

As they say, it is better late than never. Delhi has many societies, which are several decades old and are in a dilapidated state, requiring urgent redevelopment at the earliest.

In this context, it is indeed heartening to learn that the Ministry of Housing and Urban Affairs is considering formulation of a re-development policy, a belated move but nevertheless a transformative step.

The Need for Redevelopment

Delhi is a dynamic metropolitan, which is growing, changing and adapting itself in line with socio-economic development. Being the national capital – a special sentiment of the entire nation is attached with the city. Much on the lines of national capitals of major developed as well as developing nations, all of us want Delhi to emerge as well as a truly world class city – a city which boosts of robust infrastructure, top class educational institutions, vibrant medical network, slew of employment opportunities, par excellence sports and recreational facilities, proper sanitation, ample parking, green and open spaces and, last but not the least, adequate safety and security.

The current state

Over the last couple of decades, the city has witnessed unprecedented development. From roads to flyovers, hospitals, educational institutions, offices, malls – the city has witnessed progress in every sphere. The phenomenal growth also generated lots of employment opportunity and has attracted a large number of people from across the country to its fold. Unfortunately, the infrastructure hasn’t been able to gear up in line with the modernization which our city has witnessed. In order to fulfill their requirement, several unplanned developments have taken place so much so that many now refer the city as ‘Jungle of Concrete’ with fancy flyovers, malls, plush offices, growing horizontally and vertically. This implies that living conditions for most of the people have not improved much.

Most of the residential developments do not have mandatory modern amenities like power back-up, maintenance, club house, swimming pool, parks, children’s play area, 24×7 security and most necessary ample parking space, among others. Accordingly, people are preferring the NCR cities like Gurugram and Noida over Delhi.

Moreover, several buildings are in a dilapidated state and possess a risk to life, especially considering that Delhi falls in seismic zone 4, which is prone to earthquake.

The Timing is Ripe for Redevelopment

It is time to act and act fast. In order to realizing our dream of making Delhi a world-class city, we need to simultaneously act on several fronts and one of them could be ‘Redevelopment’ of older societies, whose structures have become weak over time and are vulnerable to any earthquake. Though ‘Re-development’ cannot be a panacea for all the ills of the city, it can certainly play a part in providing extra living space, world class amenities, 24×7 power and water back-up, adequate green and open spaces, proper parking, spaces for sports and allied activities, and safety and security.

Why a policy is warranted

A policy formulated by the Government will help in building trust amongst all the stakeholders. The rights and obligations of all the stakeholders will be well defined. Furthermore, the policy is likely to define minimum percentage of concurrence required for a developer to undertake redevelopment of societies as well as the option available to those minority views, which are against redevelopment. In addition, the policy is likely to outline the period of construction and cost which is to be borne by the developers. As such, a well-defined policy will reduce chances of dispute to a large extent.

It is likely that the cost of construction and the rentals paid by home owners during the period of construction will be completely borne by the developer, as is the practices in some other cities, including Mumbai.

I have little doubt the Redevelopment policy will help pave the way for a better Delhi!

(By Nayan Raheja of Raheja Developers)

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