Date: 19th September, 2013 Now, you can sell a portion of your Floor Area Ratio (FAR) to another developer or landowner under the modified land pooling policy in Master Plan-2021 passed by the Urban Development Ministry.
The main motto of the policy is to involve private parties in the development of real estate for residential and commercial purposes in the capital, which the Delhi Development Authority (DDA) was doing till now. Profit from such development will go to landowners pooling their land for the projects.
‘Tradable’ FAR in case of residential use can only be transferred to another development entity or DE (a landowner or a group of landowners) in planning zones with approval or license for projects more than 20 hectares.
Director, Certes Realty, Mr. Ramesh Menon said, “This essentially means that a DE can sell his FAR to another developer. Especially in case of height restrictions in a specific area this can be done. This same concept was prevalent in Mumbai. ”
Former planning commissioner of DDA, Mr. A.K. Jain said that the final notification has been issued by the Ministry of Urban Development, which essentially means the land pooling policy can now be put into practice. While the modalities are being worked out, an advertisement will be published by us giving details of the procedure. Only a certain percentage of FAR would be permissible for trade.
The zones for such development can be taken up in the city are:-
- ‘K-I’, ‘K-II’ (Dwarka)
- ‘M’ (Rohini)
- ‘J’ (South Delhi)
- ‘L’ (West Delhi)
- ‘N’ (Northwest Delhi) and
- ‘P-I’ and ‘P-II’ (Narela sub-city and North Delhi).
Under MPD-2021, the National Capital Territory of Delhi has been divided into 15 planning zones. Out of these, eight zones (‘A’ to ‘H’) are in urban areas and six zones (‘J’ to ‘P’, except ‘O’) are in urban extensions or rural areas. Zone ‘O’ is designated for Yamuna front. Planning zone ‘J’ in South Delhi is bounded by the Mehrauli-Badarpur road in the north, in the west – National Highway-8 and Delhi’s boundary in the south and east.
On 5th September, the Urban Development Ministry issued the notification in this regard. The notification reads as – The immediate urban extensions could be in zones ‘J’ to ‘L’, ‘N’, ‘P-I’ and ‘P-II. In order to accommodate the more population, the land required for urban extension will have to be assembled for planned development.
Article by Gloria Ganguly