The long due policy of land pooling in Delhi has been taken forward for implementation by Lt Governor Anil Baijal by putting 89 rural villages under the category of urban areas.
The land pooling policy in Delhi was initiated to develop the urban areas of Delhi and was notified in September 2013 by the Ministry of Urban Development (MoUD). The rules for making the policy operational were given a green signal in May 2015.
But, the policy witnessed a halt because of some demands made by the Delhi Government like wanting 10% of the land pooled for developing schools, hospitals etc.
However, a notification was issued yesterday by Baijal which clearly stated the execution of the policy.
But there are many other steps also to be taken before the policy actually becomes operational and this is just the first step.
DDA, MoUD, Departments of Delhi government and other concerned agencies are not very prepared for the implementation of the policy and therefore, institutional investors taking a chance to invest would not be witnessed very soon.
The land pooling policy, apart from being beneficial for homebuyers, is also advantageous for land owners because they will be provided with developed land and development in the vicinity.
As per the land pooling policy, land owners or people who have their habitat in the villages situated on Delhi outskirts will have the provision to combine/pool their land and give it to the DDA (Delhi Development Authority). DDA will develop the infrastructure like roads and will give back a significant part of the land back to the owner.
Land owners who will be pooling land area between 2-20 hectares for development will get 48% of the land back. On the other hand, the land owners who will pool 20 hectares will get 60% of the land after being developed.
The land remaining will come under the ownership of DDA as per the Master Plan 2021.
Once the pooling drill is done, real estate developers can be brought by the land owners to initiate the development of affordable residential units.