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Destination Delhi By: Raja Kaushar
Delhi Master Plan 2021 provides a lot of new real estate opportunities in the capital region to cater to an estimated 230 lakh population by 2019, writes
Samir Jasuja
National Capital Territory of Delhi has always lured investors and homebuyers with its strategic importance, and a stated intent of government to turn the city into a megapolis. Delhi Master Plan 2021 provides a lot of new real estate opportunities in the capital region, with population expected to rise to 230 lakhs by the end of this decade and a projected housing demand of more than 2 million homes.
The new master plan is focused on facilitating public-private partnerships (PPPs) in upgradation of physical and social infrastructure in the city by reinforcement of regional linkages and strengthening economic base. The city's residential skyline, till now, was dominated by various housing schemes of DDA. This trend is set to change with a new hybrid land policy, with provisions under this policy providing for entry of private developers in acquisition and development of land.
Private developers have already built up huge land parcels in 2007-2008 and the coming years will observe a phase of organized private development. This might impact real estate scenario of other cities within NCR (with the exception of Gurgaon), since these markets were primarily catering to the spill over demand from Delhi.
Indian residential real estate market has evolved into a segmented market based on the lines of commercial sector comprising of EWS/LIG, affordable, mid-income and high-income housing. Optimum utilization of urban land plays a critical role in ensuring adequate provision of dwelling units at city level and an innovative land policy is key to optimize supply of dwelling units by public and private sectors as partners. The city will be witness to an increased activity in the EWS (economically weaker sections) and LIG (low-income group) housing. Recognizing the opportunities and potential of public housing transformation, the new master plan proposes to devise a comprehensive system to allow additions, alterations and additional floor area ratio (FAR) in public housing areas. Introduction of the concept of township will also contribute to accelerating supply of housing units and development of infrastructure.
Delhi Master Plan 2021 lays down systematic changes in land development mechanism with public agencies aiming to facilitate, rather than build and develop. The plan brings about reforms enabling easier acquisition of land by avoiding delays and litigation in the process. Introduction of innovative land policy instruments like land pooling for agricultural land areas and transferable development rights (TDRs) for urban areas provide viable alternatives to large scale land acquisition.
Additional land supply is expected in market, with existing urbanized area of Delhi (70,162 hectares) to be enhanced by another 29,238 hectares, of which (new supply) 9,230 hectares will be the total gross area available for residential development.
New opportunity zones are expected towards areas of South Delhi II, Northwest Delhi III and Narela sub-city (see table). In South Delhi II, nearly 4,547 hectares (gross area) is available for residential development out of a total of 8,268 hectares marked for future urbanization. Northwest Delhi III will see 4,389 hectares (gross area) made available for residential development out of a total available urbanization supply of 8,994 hectares; Narela sub-city is next in line with 2,153 hectares (gross area) available out of a total 6,270 hectares area under future urbanization.
These figures are have been estimated assuming 44.8% of the expansion area would be developed as residential areas (based on the existing land use breakup for Zone N).
With 60% of the gross land available for residential development, the total net residential area available would be to the tune of 5,538 hectares.
Assuming the average unit size to be 1,337 sq ft (based on average of the total no. of units launched in 2009 in NCR region) and FSI of 1.75 (maximum potential built up area of 1.04 billion sq ft ), around 780,000 new dwelling units are expected in Delhi in the coming decade (see table). However, its deliverability could vary based on the hybrid land policy, which is under consideration of DDA.
Courtesy:- Times Property dtd:- 06-02-2009
FOR MORE INFO about Real Estate , Real Estate Agents, Real Estate Funds, Office Space, Commercial Space, Commercial Complex, Commercial Complex in Delhi, Office Space in Delhi Please visit our website http://www.zameen-zaidad.com
Hi i am Raja Kaushar from real estate india and my website is www.zameen-zaidad.com
Samir Jasuja
National Capital Territory of Delhi has always lured investors and homebuyers with its strategic importance, and a stated intent of government to turn the city into a megapolis. Delhi Master Plan 2021 provides a lot of new real estate opportunities in the capital region, with population expected to rise to 230 lakhs by the end of this decade and a projected housing demand of more than 2 million homes.
The new master plan is focused on facilitating public-private partnerships (PPPs) in upgradation of physical and social infrastructure in the city by reinforcement of regional linkages and strengthening economic base. The city's residential skyline, till now, was dominated by various housing schemes of DDA. This trend is set to change with a new hybrid land policy, with provisions under this policy providing for entry of private developers in acquisition and development of land.
Private developers have already built up huge land parcels in 2007-2008 and the coming years will observe a phase of organized private development. This might impact real estate scenario of other cities within NCR (with the exception of Gurgaon), since these markets were primarily catering to the spill over demand from Delhi.
Indian residential real estate market has evolved into a segmented market based on the lines of commercial sector comprising of EWS/LIG, affordable, mid-income and high-income housing. Optimum utilization of urban land plays a critical role in ensuring adequate provision of dwelling units at city level and an innovative land policy is key to optimize supply of dwelling units by public and private sectors as partners. The city will be witness to an increased activity in the EWS (economically weaker sections) and LIG (low-income group) housing. Recognizing the opportunities and potential of public housing transformation, the new master plan proposes to devise a comprehensive system to allow additions, alterations and additional floor area ratio (FAR) in public housing areas. Introduction of the concept of township will also contribute to accelerating supply of housing units and development of infrastructure.
Delhi Master Plan 2021 lays down systematic changes in land development mechanism with public agencies aiming to facilitate, rather than build and develop. The plan brings about reforms enabling easier acquisition of land by avoiding delays and litigation in the process. Introduction of innovative land policy instruments like land pooling for agricultural land areas and transferable development rights (TDRs) for urban areas provide viable alternatives to large scale land acquisition.
Additional land supply is expected in market, with existing urbanized area of Delhi (70,162 hectares) to be enhanced by another 29,238 hectares, of which (new supply) 9,230 hectares will be the total gross area available for residential development.
New opportunity zones are expected towards areas of South Delhi II, Northwest Delhi III and Narela sub-city (see table). In South Delhi II, nearly 4,547 hectares (gross area) is available for residential development out of a total of 8,268 hectares marked for future urbanization. Northwest Delhi III will see 4,389 hectares (gross area) made available for residential development out of a total available urbanization supply of 8,994 hectares; Narela sub-city is next in line with 2,153 hectares (gross area) available out of a total 6,270 hectares area under future urbanization.
These figures are have been estimated assuming 44.8% of the expansion area would be developed as residential areas (based on the existing land use breakup for Zone N).
With 60% of the gross land available for residential development, the total net residential area available would be to the tune of 5,538 hectares.
Assuming the average unit size to be 1,337 sq ft (based on average of the total no. of units launched in 2009 in NCR region) and FSI of 1.75 (maximum potential built up area of 1.04 billion sq ft ), around 780,000 new dwelling units are expected in Delhi in the coming decade (see table). However, its deliverability could vary based on the hybrid land policy, which is under consideration of DDA.
Courtesy:- Times Property dtd:- 06-02-2009
FOR MORE INFO about Real Estate , Real Estate Agents, Real Estate Funds, Office Space, Commercial Space, Commercial Complex, Commercial Complex in Delhi, Office Space in Delhi Please visit our website http://www.zameen-zaidad.com
Hi i am Raja Kaushar from real estate india and my website is www.zameen-zaidad.com
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