New land supply to meet the increasing residential demand
Nov 21, 2013
Source : The Times of India

 

DELHI: Earlier this year, the Delhi Development Authority (DDA) notified its new policy on Country homes (farmhouses). The new policy has reduced the minimum land required to build a farmhouse from 2.5 acres to 1 acre. The FAR (Floor Area Ratio) norms have also been relaxed by allowing an increased limit of 200. This can be further enhanced by purchasing additional FAR from the authorities with a maximum height of 12 meters, i.e. 3 floors. Additionally, FAR of 60 sq mtrs is permitted for EWS (Economically Weaker Sections) housing.

Given the new norms, up to three large dwelling units aggregating 8500 sq ft to 13,000 sq ft can now be constructed per acre of land in the Green Belt of notified villages in and around Delhi. Each home spread over 1600 sq yds (14,500 sq ft) of land can have a built up area of approximately 4500 sq ft. This does not include areas constructed for the use of recreational purpose, home office, storage, parking, services, and utilities installation. Consequently, an average dwelling unit could be about 7000 sq ft.

The policy aims to regularise existing farmhouses, which have been built as symbols of status and power over the last two to three decades. It is expected, that about 5,000 – 7,000 existing farmhouses will be regularised under the new policy on payment of penalty. At the outset it may appear to send a wrong signal by regularising past constructions which were not in conformity with the law. However, this is not the case. The notified villages and semi-urban areas most affected by this will now have the potential to be developed as low density residential areas thereby enabling development and urbanisation in these pockets that were until now left out of the city’s growth story.

Further, the government has made its intentions clear with this policy by identifying these pockets as having the potential for development and urbanisation. However, the future development would need to be backed with sufficient infrastructure to ensure planned urbanisation of notified villages and their seamless integration into Delhi without adding too much burden on the already stressed and meagre civic infrastructure.

Latest Realty News

Sahara’s properties overvalued, SEBI tells apex court
Nov 21, 2013
DELHI: The Securities and Exchange Board of India told the Supreme Court on Wednesday that Sahara group overvalued its properties and did not hand over all original title deeds of assets worth Rs 20,000 crore as per its direction.
Cyber City Gurgaon rents soar
Nov 21, 2013
DELHI: Outsourcing giant Convergys has left its iconic ship-shaped building in Cyber City and moved to a new office on Sohna Road after rents in the IT hub appreciated sharply in anticipation of Rapid Metro’s launch.
Microtek launches Microtek Greenburg
Nov 21, 2013
DELHI: Carrying forward the legacy of trust associated with brand ‘Microtek’, the India conglomerate Action Group and Okaya Group has once again come together to form Microtek Infrastructure Pvt. Ltd. The company today announced its entry into sector by launching its maiden project ‘Microtek Greenburg’ – a fully licensed and approved ultra-luxury residential project located in Sector 86, New gurgaon, close proximity to Dwarka Expressway.
Delhi farmhouse owners bank on new rules to monetise surplus property
Nov 21, 2013
DELHI: After a change of construction rules in Delhi made provisions for smaller one-acre farmhouses, owners of large properties on the city's fringes are actively looking to unlock the value of their surplus land.
Duped homebuyers still paying EMIs
Nov 20, 2013
NOIDA: For the last two years, homebuyers have been fighting a legal battle with little hope of finding reprieve and recovering their hard-earned money. Even as more than 300 buyers — who invested in Shiv Kala Charms housing project in Greater Noida — wait to get justice, they continue to pay lakhs towards EMIs towards home loans.
Builders' details to be uploaded on government websites
Nov 20, 2013
NOIDA: In a move that will aid buyers in choosing legally sound projects, the Noida, Greater Noida and Yamuna authorities are planning to upload details of all builders constructing housing projects on their official websites. The decision was taken after Uttar Pradesh chief minister Akhilesh Yadav directed the authorities to ensure protection for buyers and design a route to evade property-related cheatings.
Constructions flood Yamuna bed in Delhi
Nov 20, 2013
DELHI: Buildings are being constructed nonstop at Jaitpur Extension in absolute violation of Delhi Development Authority’s order to stop fresh property construction in Yamuna river zone.
Noida Extension: the real estate hot spot
Nov 20, 2013
DELHI: Noida Extension a 4,000-acre land chunk, with Ghaziabad, the Hindon River and a few sectors of Greater Noida around its boundaries, is today buzzing with activity as almost 75 real estate developers are ready with a slew of projects offering 1/2/3 BHK housing properties at affordable rates.
Part 1: Basics about mortgage of immovable property
Nov 20, 2013
DELHI: While all of us have heard about mortgage, little is known to a common man about it and its implications. Chapter IV of the Transfer of Property Act, 1882, defines various types of mortgages, rights and liabilities of mortgagor and mortgagee, its redemption and charges etc. There are at least six main mortgage types.
Part II: Basics about Mortgage of Immovable Property
Nov 20, 2013
DELHI: While all of us have heard about mortgage, little is known to a common about it and its implications. Chapter IV of the Transfer of Property Act, 1882, defines various types of mortgages, rights and liabilities of mortgagor and mortgagee, its redemption and charges etc.

Latest Realty News Of State

Realty Talk's