Delhi to Offer lakhs of Housing Units in Coming Years

Real Estate

This festive season brings you a reason to cheer. The DDA land pooling policy has received a nod from the Ministry of Urban Development and now the walled city will soon experience change. Most of the experts feel that this is the right time to invest in Delhi. This policy will help the Delhi Development Authority to dwell lakhs of housing units as they will unlock 22,000 -25,000 hectare of land.
Another big advantage of this policy is that people can fulfill their dream of housing in Delhi at an affordable rate. Until now, the Delhi Development Authority (DDA) has to build residential projects to meet the housing needs of Delhi people, but now the Authority invites land developers/builders for building townships equipped with all necessary amenities. This will also increase private partnership in the housing sector of Delhi.
According to New Delhi Awas Yojna policy, the DDA is likely to construct 20 to 25 lakh housing units in coming 6 to 7 years. Smart City Delhi is planned according to the master plan 2021. The Capital city Delhi is facing a shortage of housing came into light when the master plan was reviewed some years back. Earlier, housing projects were delayed due to the land acquisition process. Under the latest policy, there is no need for land acquisition. The land developer/builder can directly purchase land from farmers and submit the land to DDA.
The implementation of this policy is will help in developing infrastructure. The population of Delhi will grow many folds by 2021 and this policy will increase private partnership in the developmental sector. That’s not all, the land pooling policy will also help in reducing the sky rising property rates in Delhi.
The main reason behind increasing property rates was the huge gap between demand and supply of housing units. This is the right time to invest in Delhi as the city is soon going to transform in a smart city.

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