Since DDA announced the guidelines for the Land Pooling Policy there is a strong buzz in the real estate market. Builders are asking people to invest in real estate before it gets too late. People have no idea about the whole policy but experts suggest that people should wait until the policy is implemented.
Earlier there was very less scope for development in the city in the past decade. NCR towns of Gurgaon, Noida, and Ghaziabad have been the only areas where development has taken place. Land pooling policy will change all this.
The following decade will make property more affordable in Delhi similar to the NCR region. Experts say that rates of 24000 units coming up in zones L, N, K-I, P-II and J may vary from Rs5000 per sqft to Rs12000 per sqft.
Many builders have purchased land from farmers, models of housing projects are also ready and they are looking for buyers. This activity is taking place in zones L, P-II, and N which covers areas such as Chhawla, Kanjhawala, Mukundpur, Najafgarh, Khera Khurd. Metro connectivity is also being planned under the Phase IV of the Delhi Metro.
Nobody knows when the Delhi Govt will declare the 95 villages as development areas. So it won’t be a good idea to invest as of now. The policy may face some hindrances. Investors should wait till the policy is implemented.
I spoke to Ramesh Menon, Director of Certes who clarified that ~ “Today is a good opportunity for investors in Land. They would maximise their highest yield when their Acres get converted to sq. ft, after the land is returned by DDA”. Hoever he cautioned that “today is not the right time to invest into apartments, which are 100% speculative”. A careful analysis of projects being sold are all based on assumptions. Experts point our that even the Courts have warned retail buyers to stay away from Pre-launch projects.
If you are thinking of investing in Land, today is the time. Else, wait patiently and allow your money to remain safely in your own bank accounts, don’t risk it by buying ‘non-licensed’ apartment dreams.