According to the latest notification in the Land Pooling Policy or the LPP, 89 villages of Delhi are going to be urbanised by the state government. This is definitely going to be a revolutionary decision as it is expected to unlock a huge amount of area for development and residential purpose. Let’s have a look on expert’s comments on this decision.
Sudhir Pai who is the chief executive officer of the MagicBricks foundation believes that Land pooling is the future of Delhi. We all know that the population of Delhi was increasing day by day but the land wasn’t enough to accommodate those people. In order to deal with these problems and population issues, Land Pooling Policy is a brilliant idea and is a win-win situation for both the Government and the landowners. Under the Land Pooling Policy, it is believed that around 40,000 acres of land is going to be unlocked for housing and development purposes. Moreover, this will lead to almost 2.5 million housing units in Delhi under the Master Plan Delhi by the year 2021. This will definitely affect the property prices in the NCR. But, this is not going to be an easy task. Its success will be greatly dependent on the coordination and the teamwork between Delhi Development Authority (DDA), land owners and the private developers.
Ramesh Nair who is chief executive officer of JLL India has the same belief that the land pooling is going to bring the residential property prices under control. Moreover, he has asked the homebuyers to be aware of the fact that the residential projects won’t be clear for launch unless and until they are approved and registered by the RERA. This will lead to a significant decrease in the fraud cases too. The Land Pooling Policy basically involves surrendering of the land by the landowner in order to get a new land allotment. After this land developers can apply for their respective project approvals.
Apart from these two, K. Ravichandran, the senior vice-president and group head, ICRA explained about the Land Pooling Policy and discussed its present and the upcoming effects and advantages. He said the LPP is going to unlock around 55,000 hectares of land for the development and the residential purposes. In the land pooling, opportunity will be provided to the landowners to surrender their small pieces of land in order to make it a bigger land parcel. This integrated land parcel will be worked upon by the land developers for the affordable housing projects. These housing projects will seek to provide housing facilities for all by the year 2021 under the MPD. The LPP should contribute to about 9 million dwellings for the weaker sections of the society. A share of pooled land will be ultimately given to the landowner who can develop it for various urban uses. In this way, this land pooling policy will have these major impacts:-
* Increase in the dwellings for the weaker sections of the society
* Participative development of landowners
* Control in Property Prices
* Unlocking huge amount of land for other development purposes.
Still, a long way has to be travelled in order to complete these objectives. The crucial role in this policy will be played by the coordination between the government, private developers and the land owners.