Realty prices in ‘lal dora’ colonies and ‘extended abadi’ land is expected to soar if the Delhi Government sticks to its decision to extend the lal dora norms to constructions in the areas beyond the designated boundary of such villages. Property dealers in areas such as Ghitorni, Chattarpur and Aya Nagar project an increase in prices between 5 per cent and as much as 60 per cent.
It really depends on whether the Delhi Government actually notifies the norms before the upcoming Assembly elections, feels Chattarpur based property dealer Saurabh Sharma. “All in all, it will be very beneficial,” said Mr. Sharma who runs Ravikant Builders and Promoters. “Depending on which villages will be impacted by the norms, there will be a minimum of at least 25 per cent escalation,” he added.
Mr. Sharma said the conditions in villages may also improve. “Most of the villages have narrow roads and poor civic amenities. With the new norms it may see an improvement. This may lead to people renting their properties and moving elsewhere,” he said.
Ghitorni-based property dealer Balraj Singh (Chandra Properties) acknowledged the merits in notifying the norms. “There are always benefits in notifying land, but right now only the announcement has been made. Nothing is guaranteed,” he said, adding if implemented values may increase by at least 5 per cent. Whereas Ashutosh Jha from Legend Properties in Aya Nagar was far more cautious and said: “We cannot say since this is election time.” He, however, projected hikes of 50–60 per cent and predicted that residents may rent their properties to cash in on high rents and migrate to other parts of the city.
The Delhi Cabinet on Saturday announced regularisation of more extended lal dora areas which will give an opportunity to extensions to village abadis in the left out 165 villages. The Delhi Government had earlier invited applications from November 2007 to April 2008 from RWAs of unauthorised colonies and extensions to village abadis as on March 31, 2002. As a large number of extensions to village abadis had not applied for regularisation, the Government has now decided to give them another chance as this would ensure that they too become eligible to get all basic amenities.
On ground, the move will only act as a facilitator to help sort out administrative hassles and will not lead to any spiralling land prices, said Aam Aadmi Party candidate from Bijwasan constituency Colonel (retd.) Devender Sehrawat. “It is a belated step and I hope it actually takes place since village boundaries were last notified in 1952. This will help villages in North and South-West Delhi and will sanctify the properties of the villagers.”
Land in South and South-West Delhi is already expensive, said Col. Sehrawat.
“It will secure the land for future generations and will not lead to any real escalation whereby villagers will sell their properties and move,” he said.