Saturday, 15 February 2014

Good News!! DDA Increased The Affordability Of Houses in Delhi

A good news for the lower income groups who dream of owning a house in Delhi. To increase the affordability of houses in Delhi, the Delhi Development Authority (DDA) decided to build one lakh houses that will be completed in next three years for the Economically Weaker Sections (EWS) in order to reduce the number of illegal colonies and to make Delhi free from unauthorized colonies.

As DDA approved the much-awaited land pooling policy to pave way for easier acquisition of land for housing projects, the venture is set to bring about a change in the regular procedure of acquiring land, to make it effective in favor of developers and to prevent an increase in the number of slum groups.

The master plan of this project envisages development in nearly 21, 000 hectares to build residences and about 2, 073 will be allocated for commercial activities in the periphery of the existing city. 50% of the pooled land would be handed over to DDA for building EWS housing and the remaining 50% of dwelling units developed by the developer entity would be sold to the DDA for EWS housing purpose.

Under the policy, there will be two categories of land pooling, in the first category 60 % of the total pooled land will be used by a developer entity and the rest 40% will be kept by the DDA. And in the second category out of 48 % some will be used for residential purpose, some for commercial and the rest will be for semi-public use.

To make the project successful the authority has approved to facilitate residential floor area ratio (FAR) at 400 for group housing societies on net residential land, which is exclusive of the 15 % to facilitate achieving enhanced FAR for EWS housing.

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