The Delhi Development Authority (DDA) has also granted land use changes on over 40 hectares of land in North Delhi, a major step towards realizing its land pooling policy as part of Master Plan of Delhi 2021. The decision should lead to mixed-use development and open new doors for business opportunities by residential and commercial construction mainly as providing better business opportunities on DDA plots in Delhi in the northern side of the capital.
Land Pooling is given the go-ahead
The new approval includes land that is to be used in the intial stage of the land pooling plan that covers areas of six planning zones and 105 urban villages. In this policy, the landowners willingly give out their land to be combined with others and developed according to the urban plan, as well as get back a share of developed land thereof. The project will be aiming at enabling the city to accommodate the future and build new infrastructure and residential development on the areas that were not utilized fully.
As the pace of urbanisation takes quick move and the demand for housing properties rises, the approval is able to trigger land value growth and well-organized development in North Delhi. The relocation is well in line with the objectives of the planners to decongest the core areas in the city and to ensure that all areas are well balanced.
What This Implicates of Development and Buyers
City and Real estate professionals reckon that this change of policy might have far-reaching consequences on the future segments of the real estate market, particularly on those prospective buyers who have been looking at the DDA plots in Delhi as an investment or residential option. The development has previously been concentrated on the central and south parts of the city with much of the land allocation in the city; the development of the new land use could attract a lot of development in the north of the city.
According to one of the senior urban experts, integrated townships where residential, institutional, and commercial uses are merged are possible in the land pooling policy. It implies that there will be increased planned neighbourhoods and improved amenities to make the sites more appealing to future residents and investors.
The way forward for the stakeholders
With the increase in the need to have organised housing and efforts to curb the urban sprawl, the neighbourhoods that were considered peripheral areas might become a mainstream area of housing and commerce. This, further, would tend to increase supply and demand forces of DDA plots in Delhi in these new areas that are accessible.
To potential buyers looking into the future, long term view of DDA plots in Delhi should consider such changes of policy and increasing geography of urban development. With the continuous upgrading and incorporation of new areas in the planning system of the city, the need to have well located plots where there is access to facilities is bound to increase further.