Delhi Development Authority (DDA) nod to modification in Master Plan for Delhi 2021
In a major decision, the Delhi Development Authority gave in principle approval for modification in the Master Plan for Delhi 2021 to offer certain relaxation to farm houses set up in the green belt and low density residential areas in the city.
As per new policy, land pockets of minimum 0.4 hectare (4,000 sqm) may be developed as residential plots.
The new policy will benefit nearly 2,400 farmhouses in areas such as Mehrauli, Neb Sarai, Chhatarpur and Rangpuri.
As per the policy, owners of farm houses will be required to cede land for infrastructure projects such as construction of roads.
The land pooling policy will replace the present model of acquiring land by DDA.
It will allow private players to be involved in the development process.
DDA will invite public suggestions and objections on the policy before implementing the scheme. More details here
Delhi Development Authority's (DDA's) new policy makes provision for smaller 1-acre farmhouses
Delhi Development Authority's (DDA's) new farmhouse policy makes provision for smaller 1-acre farmhouses as against the minimum size of 2.5 acres earlier, which could further impact property prices in prime south Delhi localities where prices have dropped by 10-15% in the last one year.
These new dwellings called Country Homes will be allowed a higher floor area ratio (FAR) of 20 compared to the earlier stipulated 15. The new policy also allows owners to pay an extra charge for utilising higher FAR than what has been stipulated, said a senior DDA official, who did not wish to be named.
Older farmhouses that have utilised higher floor areas than what was sanctioned are now being regularised by paying a penalty. Farmhouses in Delhi are only allowed in the peripheral green belt of the city but the government is yet to decide the areas in the green belt where it will allow these Country Homes to come up. "It will come in a separate notification subsequently," said the official.
Allowing 1-acre farmhouses with higher FAR would peg them in direct competition with premium homes in south Delhi localities where apartments by builders cost almost as much.
In some of the villages in the green belt of Delhi, valuations have already run up by 50-150% in the last one year. The biggest boost has come in the last three to four months since the in-principle approval was given to the new scheme last year.
A number of newer areas that fall under Delhi's green belt in the new master plan of the city are expected to see new farmhouses being set up. At the moment, land prices in villages bordering Gurgaon, like Jhatikra, Kanganheri, Nanakheri, Raghupur and others are running up because of the new policy but are still very competitive compared to south Delhi prices. More details here
