Land Pooling Policy DDA
What does Land Pooling Policy stand for? Should the home buyers invest in a pooled property? Will the new scheme benefit the home buyers in Delhi NCR? These are some common questions that every home buyer wants to know about.
In line with the major infrastructural development project, the Delhi government has identified more than 80 villages for the urban development. And to make it happen, the government has introduced Land Pooling Policy as a key driver to push its urban development project.
Land pooling is a way of fetching land for developing the urban project in the location wherein small chunks of the property is owned by a group of people who come together to put the infrastructural development in place.
Once the development is designed, the Land Pooling Agency would redistribute the land after subtracting some parts of the land as reparation for the infrastructure cost.
If you look into the principle of Land Pooling Policy, it is basically aimed at reducing the burden on the present overfilled and saturated areas. And it is said to be a helpful tool for the city like Delhi.
What is in for the home buyers?
If the policy is implemented successfully, the property would be affordable in days to come. It is largely designed to reduce the burden in infrastructural cost as it would address the key concern of land pooling for the housing project. As per the real estate news, the policy is going to be effective in across the prime cities to push residential development.
On the other hand, it is also believed to allure private players—which will ultimately end up enhancing the housing projects across the nation.
How will it help the home buyers?
Though the policy is still to be notified for the public domain, the policy is highly believed to bring in affordability in the real estate industry in India. Experts are of opinion that the policy would pave a way for the ultra-modern urban development initiatives at the lowest infrastructural cost.
According to the DDA’s
According to the DDA’s Master Plan 2021, the available vacant land is in short supply to meet the requirement of increasing population in the coming decades. But with the proper implementation of Land Pooling Policy in the capital, it will become even better to address the shortage of land—consequently, it will end up fulfilling the demand for houses in Delhi and NCR.
And once the demand is fulfilled, the price of real estate in India will automatically come down. On the other hand, some of the legal provisions suggested in the policy are quite pro-homebuyers as there would be no room for any sorts of irregularities in completing the project.