Delhi – One of the main reasons why the industry for real estate in Noida and Gurgaon is on the rise today is mainly because land in these regions is quite scarce and thus expensive in the national capital. However, the designing and the implementation of MPD 2021 that proposes vertical growth and development of Delhi has resulted in a leap in housing developments across the capital city. Recent modifications made to the plan have also led to 109 new sectors announced in Delhi that are all set to taste the development of residential and commercial units. These new sectors have been announced with the objective of making Delhi and its different zones smart cities that have all the facilities and amenities required by individuals who have long dreamt of living in smart but affordable units.
The Master Plan of Delhi along with the Land Pooling Policy has been put in place for unlocking large tracts of land in the capital city. This would be land mainly available in the untapped and peripheral regions like Najafgarh, Narela, Bawana, Kanjhawla and the extensions of Dwarka and Rohini. Super tall constructions are being expected to fast come up in a majority of the areas featuring private partnerships. The 41 new sectors announced in Dwarka will be supplying approximately 14 lakh new residential homes to the people of Delhi.
Till date, the Delhi Development Authority has not been successful in providing affordable homes to a sufficient number of people in Delhi. This has further led to the demand for housing throughout the capital. The demand was worth witnessing when the DDA announced 16, 000 new apartments in its housing scheme. There were more than 12 lakh individuals who had applied for homes developed by the new housing scheme of DDA. This was because Delhi did not have any land supply for constructing apartments and flats that could accommodate a large number of home seekers throughout the national capital.
It is with the implementation of MPD and LPP that land is widely being released across the different zones of Delhi. In this context, it must be noted that the L Zone and the N Zone are the most important areas where large scale development has been promised with the construction of affordable residential and commercial units. These are zones where more than 70, 000 hectares of land is available and approximately 25, 000 hectares have been proposed for the development of residential townships. This means that regions like Noida and Gurgaon will now have to go through the hassle of creating demand while Delhi will be sitting on captive demand.
There is this acute need for arranging parcels of land in Delhi that has led to the designing and the announcement of a large number of new zones.