Land Pooling in Delhi to offer great options to both land owners, home buyers

The Delhi Master Plan 2021 is likely to ensure that the vision of housing 10 million people in the national capital will be realized once 25,000 acres of land is unlocked in a phased manner under the new plan opine experts.

The MPD 2021 has got unanimous support from real estate industry which has voted for the Land Pooling Policy as it will ensure that more land is available for development and also make it easier to get licenses, and permissions from the government. The more availability of land for development will also ensure that quality properties in large numbers are built and sold at a price which is affordable, and does not keep a large group of middle class buyers out of the market. Ramesh Menon, Director, Certes Realty Ltd believes that land is the most expensive and vital cog in this business, and by giving option to landowners, and farmers to develop the land themselves or enter in collaboration with builders will ensure optimum utilization of land in Delhi. “It is because of this reason that land prices have increased in Delhi which will help farmers to monetize the land in a systematic manner”, he adds. Experts say that land pooling will ensure that farmers can enter into deals with developers who have the knowledge, and know how to build and manage quality properties which requires quite an expertize.

Apart from selling the land, and entering into joint ventures it is also being suggested that land owners could enter into Real Estate Asset Management REAM which combines the benefits of a joint-venture and at the same time, de-risks the investment as the ownership of the asset rests completely with the land-owner. An experienced and professional organization assumes complete responsibility in this case, and manage the property, and investment to the maximum benefit of land owners. REAM involves complete real estate management that includes conceptualizing the product, clearances, permissions, developments, marketing, legal assistance post sales management, asset management. The company which undertakes REAM can also lend product/brand name to the project which helps in capitalizing on the brand and equity which has been created in the past by the developer.

Menon opines that the land pooling policy in Delhi will put it on a growth trajectory ensuring that housing becomes affordable, and even more luxury options are available to buyers. This will also end the earlier mode of development which was controlled by government agencies, and ensure that real estate becomes more participative in nature. It is also important for the land owners to understand the various options available to them, and with availability of land in Delhi to become a possibility soon it is expected that Delhi will also take over the lead it had lost to Noida and Gurgaon.

Dated: 27th March 2014
Nancy Singh

 

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14 Responses to “Land Pooling in Delhi to offer great options to both land owners, home buyers”

  1. rajt says:

    should I invest in rzone.
    how much return it would give me in coming years

  2. tyagiab says:

    when will the land pooling policy come into play

  3. tyagiab says:

    when will the land pooling policy come into play..

  4. Raj says:

    There was an interview by VC, DDA on The Hindu stating that they will start enforcing the policy within 1 month.

  5. SUBODH says:

    WHAT HAPPEN TO THOSE PEOPLE WHO I NOT HAVING 2 HECTARES OF LAND.

  6. SUBODH says:

    HELLO SIR,
    WHAT HAPPEN TO THOSE PEOPLE WHO ARE NOT HAVING 2 HECTARES OF LAND.???

  7. rahul says:

    Dear Nancy Singh,

    We agree to all the concepts and matters as u stated.. But don’t you think that it is taking lots of time to get the policy in force. Pooling policy was supposed to be published in February, 2014 and now it is end of the march and no sign for the policy to come in force. And if we talk about the root reality. There are not much buyers of land in the upcoming zones. What does it mean? Are builder not interested to invest in land or do they want to enter after the clearance of all policies first?
    There are chunks of land purchased before long long time by few of the builders, but since last 1-2 years there is no demand in the areas. When will the policy come into force and when will the demand for land rise in the area such as Zone L , Zone K-2 etc.

    • admin says:

      Land pooling policy is notified on 5th September 2013. DDA has also prepared draft detailed regulations for operationalization of the Land policy on 29th January 2014

      • Ajay says:

        But sir, the real question is still unanswered i.e. when this “draft” word will be removed from your above answer? I mean – when are these regulations being notified/published?

      • Bittu says:

        Is there any problem in finalizing this Police by urban development ministry during Model code of conduct of LS’14 election. Why it is taking so long time? Any idea about time frame?

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