The Delhi Development Authority (DDA) cleared land pooling policy in order to give fillip to the residential projects in the city. The policy is expected to address housing problems, particularly for the economically weaker sections.
Before notifying the policy, the authority would invite suggestions and objections. Presently, DDA acquires land directly from farmers or land holders. Lack of adequate compensation has always been a problem with farmers.
Once the policy is notified, it is expected to drive multistorey development in urban extension areas like Bawana, Najafgarh and Narela in Outer Delhi.
Though the policy aims at protecting the interest of medium-size land owners and real estate majors, the norms will benefit those who manage to get a large chunk of land. Sources say developers like Emaar MGF and Ireo have huge land banks in Outer Delhi area.
Once land owners pool their land to avail this policy, they will get incentivized FAR for EWS housing. There will be two categories for land pooling. In the first category, owners can pool a minimum of 3 hectare to a maximum of 20 hectare. Out of this, 60 percent will go to DDA. In the second category, where pooling is allowed beyond 20 hectare, the owners will have to surrender only 40 percent of the land to DDA.
The policy says developers will have to give EWS flats to DDA at a pre-determined price so that the government fulfils the promise of providing housing to the poor. Half of this will be meant for those providing services like domestic helps and drivers.