Land Pooling is a new concept that has been introduced for the development of Delhi. By definition, it means pooling of land by various owners and handing it to the authority. Now this authority builds civic infra on it and further gives it to the developer entities to develop the whole land through residential and commercial sectors. The original land owners are also the stake holders of this development and get more than half of their land back in different locations. Thus, this policy is a win-win for everyone.
Many experts of real estate have cited this policy as a marvel which can shape Delhi’s future to a new level. Delhi Development Authority (DDA) issued a notification of land pooling policy back in September 2013. Since then, this topic is always in news due to its sheer importance to every sect of the people. Land Pooling Policy is the root source of Delhi government’s Master Plan of Delhi 2013. This is such an important matter for the society as a whole as it is providing 2 -2.5 million housing opportunities for over 8 million people.
Although land pooling concept is new to Delhi, it has been in use in other states of India such as Gujarat, Maharashtra and Andhra Pradesh bringing in high class of development. Not only domestic states, but many of the world’s most developed countries has utilized this concept for their maximum progress.
The perks of implementation of the land pooling policy is wide ranging. First of all, besides already mentioned 2.5 million housing opportunities, ₹35,000 crore have already been invested by more than 2,000 buyers, hence an assurance that the desired development is already in full fledged mode. Planned development is the focus of Delhi government to make it India’s first smart city. Planned development is also the need of the hour seeing many of the random and unauthorised areas in Delhi.
One of the most significant factor of Land Looping Policy is the annexation of land acquisition act which has been eating the wealth of poor farmers due to unfair compensation by the government. It will also revive the dud real estate market of Delhi and in addition would bring foreign investment and employment. Moreover, government revenues would increase with authentic regularisation of land.
However, Land Pooling Policy is still to be fully sanctioned by the Delhi government even though DDA and the MCDs have green signalled the policy.
The ruling government is taking precautionary steps like asking advice from urban developers and also making sure that no further harm is done to the farmers.
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