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NCR Delhi: New MPD-2021 brings great opportunity for investors

Opening up of 26 villages for development is a great opportunity for real estate developers and investors. As per new draft Master Plan for Delhi-2021 new residential zone policy is anticipated to be notified soon by the Delhi Development Authority (DDA). DDA gave 45 days time period for suggestions and objections which got over on 2nd June, 2013.

 

Now stakeholders are eager to know the changes, brought by notification on policy designed on land pooling procedures. The policies by DDA were finalized on green belts and low-density areas which include the 26 villages in Southwest Delhi. In these selected areas developers will be permitted to build farmhouses on one acre with up to 30 percent Floor-area ratio (FAR).

 

This policy has drawn attention of investors which also include Non-resident Indians (NRI). Publication of the policy is still pending, but it hasn’t affected investors who are all set with their stakes. Reason behind this is high price rise expectations which is going to be much more than the exorbitant price rise in past.

 

New residential zone includes Zone-L which has four landmarks including stretch of Jheel, Dwarka, National Highway No. 10 (Rohtak Highway) and Jhajjar. Gurgaon is the most upmarket area in the National Capital Region followed by Noida, Faridabad and Ghaziabad.

 

Prices in this zone are anticipated to be much higher as compared to other zones and reasons behind this are proximity to IGI airport, availability of proposed diplomatic enclave and 18-hole Golf Course on 186 acres land in vicinity. Current prices in this area vary from around Rs. 3.8 crore to Rs. 5 crore per acre, which were somewhere around Rs. 2 crore to Rs. 3 crore few months back. On notification of the new policy these are further anticipated to go up by around 50 percent.

 

This entry was posted in Gurgaon, Investment, NCR Delhi, Newsletter, NOIDA. Bookmark the permalink.

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