New Delhi Master Plan 2021, Boon for Investors

New Delhi Master Plan 2021, Boon For Investors

The new draft Master Plan for Delhi-2021 is a great opportunity for developers and investors as the new residential zone policy, expected to be notified by the DDA in the near future, would open up 26 villages in southwest Delhi for development.
Delhi, the national capital, has the distinction of address value, apart from its status as the pre-eminent socio-economic hub.
The period of forty five days for suggestions or objections on the new residential zone policy published by the DDA on April 18 lapsed on June 2 and all the stakeholders are now eagerly awaiting the notification of this policy, which has been modelled on the lines of land pooling procedures.
The DDA has finalized its policies on green belts, as well as for low-density areas. The low-density areas represent 26 villages where farmhouses on one acre would be permitted with up to 30% floor-area ratio (FAR). This policy declaration has, according to realty experts, triggered aggressive but hidden movement by investors, including NRIs, giving a big boost to these areas.
Experts say that although the policy on residential zones still awaits publication, investors are consolidating their stakes here silently, keeping in mind past experience where even a little demand raised the market to exorbitant levels. Those levels are still lower, compared to the going rates in the surrounding areas, and considering the new developments projected for these residential areas.
The most upmarket area in the NCR is Gurgaon while Noida, Faridabad, and Ghaziabad are a few notches lower considering Gurgaon’s job opportunities and its overall ambience.
The Najafgarh Jheel demarcates Delhi from Gurgaon on this part of Delhi. The area falling between the four landmarks, namely, the stretch of Jheel on one side, Dwarka on another, NH-10 (Rohtak Highway) on another, and Jhajjar (Haryana) on another has been named Zone-L in the new residential zonal development.
The villages on the periphery of Delhi would be retained as green belts, acting as the lungs of Delhi.
The upswing in residential zone land prices in Zone-L are likely to be higher in comparison to other zones like N, P1, P2, K1, K2, and J. This is on account of Zone-L’s USPs, namely: proximity to the IGI airport, close proximity to the forthcoming 186-acre 18-hole golf course, the planned second diplomatic enclave in Dwarka attracting VVIP security and its excellent ambience, the proposed AIIMS II, and the forthcoming Kundli-Manesar-Palwal Expressway, among others.
Prices in Zone-L currently range between Rs 3.75 crore and Rs 5 crore per acre, which were around Rs 2.5-3.25 crore per acre only about two months ago. Experts are of the view that the prices would further increase by not less than 50% once the DDA notifies the new residential policy. This could be a very rare opportunity for investors to buy land, as there is little or no land left in Delhi for further urban development.
Realty experts say that in the near future this area would be competing with the well-maintained South Delhi, as far as land prices and demand are concerned; the area is also in close proximity to South Delhi.
Out of the two brackets of land holdings, namely from 7.5 acres up to 50 acres (which get 40% residential FSI), the other, over 50acres, gets 53% residential plus 5% commercial plus 2% institutional, giving much more yield in terms of FSI and hence more lucrative investment option for investors.


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