Industrial land is the next target by Delhi to build homes.

Date: 7th September, 2013                                                                                     Gloria Ganguly

DDA (Delhi Development Authority) is planning to unlock prime land in the Capital for housing by allowing limited residential development in industrial areas. The Master Plan of Delhi 2021, which is currently reviewed by the agency, has proposed an amendment to allow residential units in areas meant for industrial purposes as part of redevelopment of these industrial areas. That means that those who own industrial plots in these areas would be allowed to develop studio or service apartments.

A senior DDA official said that the amendment is in the final stages of being passed and once formally notified, the responsibility would be on plot owners to develop residential units if they wish. For residential development about 20% of land would be allotted. Group housing projects would be allowed but the decision would lie with the plot owners. The scope would be more in upcoming industrial areas.

The general secretary of the Patparganj Industrial Area Association, SK Maheswari,  — who gave the proposal for mixed land use of industrial areas to the DDA — said allowing housing in these areas would help people employed by industries there. Service sector industries as IT would benefit if employees could live and work at the same place instead of traveling great distances.

Another benefit could be a dip in property prices. Industrial areas such as the ones in Mayapuri, Okhla, Naraina and Patparganj are surrounded by residential areas preferred by house hunters. Property Prices have been pushed up by the demands. For instance, a 2BHK flat in these areas cost between Rs. 60 lakh and Rs. 1 crore. If industrial plots were to be unlocked there may be slight dip in prices.

Certes Realty Ltd’s Director, Mr. Ramesh Menon, affirms, “It’s a good move as property prices are high in Delhi owing to a supply-demand mismatch. This move would create more supply and provide more people with an opportunity to own a house, which has been beyond the reach. Along with development of housing, the infrastructure also needs to be augmented. It should be able to accommodate the extra burden on power, water and parking and other resources.

 

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