NEW DELHI: Delhi Development Authority has just discovered land worth thousands of crores in south and west Delhi. According to senior officials, the newest of its discoveries through the on-site land survey, which has been going on for a few months now, were in Lajpat Nagar, Defence Colony, Jangpura and Rajendra Nagar.
The survey is expected to continue for some time. It has been throwing up mindboggling numbers but, even by conservative estimates, the Authority is now richer by Rs 2,500 crore. This valuation is over and above the 145 acres in south Delhi that DDA already found via the ongoing exercise.
Senior officials say they came across at least 42 land parcels in south Delhi alone. Most are located in Lajpat Nagar, Defence Colony and Jangpura. In west Delhi, DDA identified land parcels in posh areas like Rajendra Nagar. Real estate experts put the total value of DDA's recent findings at several thousand crores.
"The asking rate for land in areas like Defence Colony and Lajpat Nagar is not less than Rs 5-6 lakh per square yard. In west Delhi, each square yard in a planned colony would fetch no less than Rs 3-4 lakh," said Mukesh Sharma, who works in Dwarka.
Since starting its first-of-a-kind survey of land parcels across the capital in a bid to consolidate its records, DDA's land holdings have totalled about 7,000 acres. The Authority is now working out the best way to protect and develop the new land. Senior officials said locals, politicians and social workers helped DDA identify the land parcels. DDA is planning to upload information about the newly-discovered land parcels, including all approved layout plan, ownership and measurements, on its website for public feedback.
DDA now owns more than 1,800 plots in various zones of Delhi, about 90 of which are encroached upon and 40 under litigation. The biggest chunk of vacant land, ready for development, has come from Narela. South Delhi has yielded about 150 acres of land.