In our earlier post about Land Pooling, we already have discussed about : What is land pooling policy, how it works, what is its purpose, how much time will it take to develop and how sub-cities in Delhi will be created. Still, there are a lot of questions which are unanswered. In this post we will discuss about those questions.
We will be talking about the current status of land pooling, role of DDA in it, regulations about the pricing and market and other questions. Here we go starting with …
What is the current status of Land Pooling?
In current scenario, DDA is acquiring the land under large-scale acquisition and disposal policy. DDA will soon make an advertisement in newspapers inviting applications for land pooling policy.
The residential scheme 2014 announced by DDA was from the land acquired through this process. “At present, DDA has some residential land still available in Narela, Rohini and Dwarka. The schemes for these areas will be announced in the near future. As acquisition has become a cumbersome process, the future development through unified comprehensive planning will be through land pooling policy,” says Mr. Balvinder Kumar, VC, DDA.
What is the role of DDA in land Pooling ? Is there any property pricing regulator bracket ?
In the words of Mr. Balvinder Kumar, “As per this policy, DDA together with the government will act as a facilitator with minimum intervention to facilitate and speed up integrated planned development.
About pricing bracket, “It will be a free market and the prices will depend upon the facilities and infrastructure provided by individual builders.”
Why the property buyers in Delhi should go for it ?
“Through this policy DDA will be able to develop the urban extension area roughly of 20 to 24 thousand hectares. These areas will be self contained with all facilities and infrastructure, however, a thorough check on developer is required before investing in such schemes.” Mr. Kumar Says.
Things to be considered before investing in projects promoting with Land Pooling policy :
In the words of Mr. Kumar“The land pooling policy is notified, however, the regulations are still under consideration. At present, builders/developers are promoting their schemes with details about land to be returned by DDA and are stating it to be a part of the DDA approved scheme. In this regard, DDA has already issued public notices to be cautious of such misleading advertisements as no such scheme is approved nor land to be returned is finalized by DDA.”
“DDA has not given any license/approval to individual societies and the return of land will also be based on the applications and subsequent processes in DDA,” he informed.
Source : Web & Magic Bricks