No Land Acquisition is Possible in Delhi, says Pankaj Bajaj Eldeco

Giving a blow to the real estate market along with the developers, heads of co-operative societies and local farmer the new land pooling policy has come as a big jolt to the market all over. The already slow market will become slower as DDA will not participate directly.
Although, envisaged in the original plan the DDA has limited its role as a facilitator now. As per the blow of the air, it is been said that the Land pooling policy will give an undue power over land to the builders and policymakers. Lack of transparency will bring the marginalization of small land with developers and farmers.
Many buyers who have bought a land to start a housing project the news has come as a disappointment to them. They say that it is a total failure to the prime minister's scheme of providing homes to everyone by the end of 2022 as most of the people friendly governmental policies have been done away or curtailed by the emergence of the policies.
The decision to bring down the FAR from 400 to 200 will only have a negative impact on the number of housing units that were to be built as the act suggests to increase proportionate land prices making it quite unaffordable. Although the policy allows the purchase of FAR which is ignored as an option by the developers.
Discussing the act and its ruling the President of CREDAI-NCR, Eldeco MD Pankaj Bajaj said 'Whether land pooling can work entirely in a place like Delhi is doubtful. Especially for land required for laying essential setting up services like sector roads, trunk drainage, water pumping or electricity supply stations.'
He also said that 'Some element of the land acquisition is unfortunately unavoidable but that is stymied by the current shape of the Land Acquisition Act until which no land acquisition is practically possible in Delhi. ?

Company :-Eldeco Group

User :- Pankaj Bajaj

Email :-eldecopankajbajaj@gmail.com

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Url :- http://www.pankajbajajeldeco.in/