DDA okays draft regulations in their final meeting and this pushes the policy further towards getting converted into reality. Further objections / suggestions would be invited from public via notification for a period of 45 days. Though, for the regulations to get alive it would have to go through a final lithmus test at the hands of UD ministry.
Under the new policy, minimum land requirement has been lowered from 3 Ha to 2 Ha. 95 Villages would be converted into development areas and 89 into urban villages. This would release around 70k Ha of land for urbanization.
This will not only bring relief to the real estate industry, people willing to own property at affordable prices within the capital, but will also take away the hassles involved with such grand projects which usually goes with large scale land acquisition. With all been said, its still a long road ahead.
a) Minimum requirement comes down to 2 Ha ( * 2.5 = 5 acre)
b) The landowners, who would participate in the policy will get back 40-60% of developed land, back from DDA.
c) Landowners with fragmented land pieces, will be returned developed land by DDA at a single place, in the vicinity of the largest land holding in the same zone or within 5 kms.
d) 15% of FAR will be reserved for EWS category.