The Union Urban Development Ministry’s approval of regulations is a concrete step towards the implementation of the land pooling policy, says Sanjay Dutt, Executive Managing Director, South Asia, Cushman & Wakefield.
“It helps steer away from the development-by-acquisition model that had been followed till now.
The policy will unlock hitherto untapped potential for land, for developments across 20,000 hectares of land within Delhi city limits, covering shortfall in land availability in the capital city.”
Mr. Dutt points out that over and above the 400% floor area ratio that has been approved, a 15% reservation for the economically weaker section (EWS) that has been notified will address the issue of affordable housing in the city.
Revenue
The development authority will be hugely benefited as it would be able to earn revenue by developing and selling land.
However, the benefits of the policy will be reaped only if the land pooling process is implemented in a swift manner, with collaboration between the development authority and land owners.
