LPP Endeavours at the Real Estate growth of Delhi by 2021
The urban development ministry permitted the finest Land Pooling Policy on the dated 5th September in the year of 2013. The land pooling policy is known as vide S.O.No 2687 (E). It strictly endeavors at avoiding the land sale without the owner’s consent. Additionally, it assures few necessary modifications in the acquisition process and the growth of property field in the capital city, which is popularly known as Delhi. When it comes to the initial master plan, this plan was created in the year of 1961 which declared that DDA is for acquiring huge lands from the property owners straightly at an amount which is accurately determined by DDA. It is useful note that this DDA platform would be effectively undertaking the master planning task followed by either sell of growth of the area in pieces. Ahead of the property valuation task being nominal, this work was considered entirely acceptable.
How land owners benefit from LPP?
Under this land pooling policy, every land owner is qualified to give up their land i.e. property into the central pooling to the benefits of readers and can turn into the stakeholder to proposed growth of their property. Upon the land pooling, the owner of a land will be truly getting back about forty to sixty percentages of the segment which is given up in forms of developable property. The remaining segment that the DDA would truly be preserving will be used for the infrastructural growth along with the monetization of them against few purposes. There are two main land pooling classifications available that include
• Above the land of 20 hectares – Here the landlord with definitely get back about sixty percentages
• From the land of two to twenty hectares – Here the landlord will get back around 48%
MPD 2021’s Mission
The Master Plan of Delhi 2021, named MPD 2021, is seemed ahead as the biggest real estate development in India which is developed for comfortably accommodating about 10 million citizens with the development of around 1.6 million units.Share This